Australian Open increases prize money by 13 per cent for total pool of $58.4m

en's and women's singles champions will receive $3.15 million Australian dollars each (about $2.15 million).

Australian Open tennis officials have announced an increase in prize money by 10 million Australian dollars ($6.8 million) for the upcoming tournament which begins on Jan. 14 at Melbourne Park.

Belarus’ Aryna Sabalenka celebrates with the trophy after winning her final match against Kazakhstan’s Elena Rybakina (REUTERS)

Tournament director Craig Tiley said in a statement Friday that the Grand Slam tournament will now offer 86.5 Australian dollars ($58.4 million) in total prize money.

The U.S. Open announced in August that it was increasing its total prize money and player compensation to a record $65 million, which is the highest among the four Grand Slam tournaments.

“We’ve upped prize money for every round at the Australian Open with the major increases in qualifying and the early rounds of singles and doubles,” Tiley said.

At Melbourne, first-round qualifiers will receive a 20% increase to 31,250 Australian dollars (about $21,000). Men's and women's singles champions will receive $3.15 million Australian dollars each (about $2.15 million).

The women's final, where Aryna Sabalenka is the defending champion, is set for Jan. 27. The men's final, where Novak Djokovic is the defending champion, is scheduled for for Jan. 28.