The Australian Open 2014 edition will feature an increased prize money of $2.8 which brings the overall total to $31 million.
The organizers of the first Grand Slam event of the year have yet to reveal the per round compensation but just like in previous years, both men and women will get equal prize money. The Australian Open 2014 takes place from January 13 to 26.
The four Grand Slam events have been increasing their prize money in recent years to keep up with the player demands for increased compensation for their participation.
As of the 2013 edition, Wimbledon offered around $36.5 million in prize money, US Open with $34.3 million and Roland Garros at $29.7 million.
Australian Open Tournament Director Craig Tiley said that he’s expecting the world’s top 100 men and women to participate at the Australian Open. The defending champions are Novak Djokovic and Victoria Azarenka.
“We said it last year and we still believe it … these incredible athletes deserve every cent and we will continue to do everything in our power to make the life of an international professional tennis player more worthwhile. The Slams have led the way, but the entire tennis fraternity still isn’t there yet,” Tennis Australia CEO Craig Tiley said.