Australian Summer of Tennis to offer record high $100 million prize money

Prize money during Australian Summer of Tennis, including the 2023 Australian Open has risen to a record high of more than $100 million.

The historic-high prize pool is a result of a record $76.5 million for the Australian Open 2023 (a 3.4% increase) as well as the addition of the lucrative new United Cup event.

Announcing what the world’s best tennis players can hope to win in the coming weeks, Australian Open Tournament Director, Craig Tiley stated “it is critical to the continued success of the Australian tennis summer that we provide strong and relevant playing opportunities and ensure that the best players in the world are compensated appropriately.

“We want to ensure Australia is the launchpad for the global season and that we see as much of them as possible. They inspire us all to engage in this great sport as well as inspiring future generations.”

Tiley added “we are delighted to have more than $100 million in prize money on offer across the Australian summer, along with more chances to compete across the country.

“We’ve worked tirelessly alongside the ATP and WTA to launch the exciting new United Cup, which includes its own significant ranking points and prize money, a further two WTA and ATP events in Adelaide, the Hobart International and an upgraded ATP 100 Challenger in Canberra.

“At the Australian Open we’ve upped prize money for every round from qualifying, through to the finals, with the major increases in the early rounds, where these substantial rewards help players invest in their own careers and in many cases, set themselves up for success throughout the year.”

Singles champions at the first Grand Slam of the year will each take home $2.975 million.

Tiley cites need for new venue, raising fears that event could be lost to Melbourne
While handing out the record prize money, Tiley has revealed that, despite Tennis Australia announcing a return to profit in December, the Australian Open is in a difficult financial position with rivals lining up to poach the event.

In an interview with Melbourne newspaper the Herald Sun on Friday, Tiley advised that losses run up during the past two pandemic affected tournaments had raised the risk of the event being staged elsewhere.

Although Melbourne has a contract to stage the Australian Open until 2046, Tiley harked back to what he referred to as “a period back in 2010 when there was significant interest from Sydney and significant interest from Shanghai.”

He also admitted Tennis Australia were approached about moving the 2020 and 2021 editions of the tournament amid Victoria’s Covid restrictions.

Key to Tiley’s position was a call for a new stadium and more courts at Melbourne Park, commenting “we do need to develop another master plan and work with the state government on it.

“And there is going to be a need for another stadium, whether that be a refurbishment or a replacement of John Cain Arena.

“There will be a need for more courts, as the event grows onto a three week event.’’

The 2022 Australian Open gets underway on 16th January 16 and runs until 29th January.

Images: Craig Tiley at Melbourne Park.