The prize fund for this year's Australian Open has been increased by 16% to A$111.5 million ($74.88 million), making it the largest purse in the tournament's history, organizers announced on Tuesday.
The two singles champions will each pocket A$4.15 million, up from the A$3.5 million which Jannik Sinner and Madison Keys took home last year, Reuters reported.
"This 16% increase demonstrates our commitment to supporting tennis careers at every level," said Tennis Australia CEO Craig Tiley.
"From boosting qualifying prize money by 55% since 2023 to enhancing player benefits, we're ensuring professional tennis is sustainable for all competitors."
The US Open offered the largest prize fund of the Grand Slams last year with $90 million, while Wimbledon offered a total of 53.5 million pounds ($72.49 million) and the French Open 56.35 million euros ($66.12 million).
First-round losers at the Australian Open will walk away with A$150,000, a hike of 14% from 2025, while the qualifying rounds will see the largest hike of 16%. Those falling in third round of qualifying will earn A$83,500.
The prize money increase is part of Tennis Australia's $135 million investment across the "Summer of Tennis", which Tiley said, "strengthens tennis's foundation, ensuring the sport's long-term health and commercial growth".
The Australian Open runs from January 18 to February 1 at Melbourne Park.
