This Thursday the Open the Australia has made public the prize money for this new edition of the tournament. The jackpot itself has increased by 3.4% but this has not been enough to offset the fall in the Australian dollar, the rise in the US dollar and the fiscal policy of the oceanic country, which has generated that the amount that the players receive is less than that of other major events, also including the ATP or WTA, not only the Grand Slams.
In total, in the Australian summer a boat of more than 100 million of Australian dollars, a great bet by Tennis Australia to carry out the different tournaments that they have during this month of January, including the new event by countries, the United Cup. For Craig Tiley This is essential so that everyone can have opportunities. “It is critical to the continued success of the Australian Summer of Tennis that we provide strong and relevant playing opportunities and ensure that the best players in the world are adequately compensated. We want to make sure Australia is the launching pad for the global season and that we see as many of them as possible. They inspire us all to participate in this great sport, as well as inspire future generations,” he commented.
Of those 100 million, they will go 76.5 to the Australian Open, which Tiley sees as an opportunity for players to start the year with money to invest in their career. “At the Australian Open we increase the prize money for each round, from qualifying to the final, with the biggest increases in the early rounds, where these substantial rewards help players invest in their own careers and, in many cases, to be established. for success throughout the year.”
THE CURRENCY EXCHANGE PROBLEM
Although this increase in prize money greatly favors most players who fall in the qualifying phase or early rounds of the final draw, tennis players who exceed $180,000 in prize money will suffer a large reduction. First of all, for example, the winners will receive 2,975,000 Australian dollars, that is to say approximately 2 million US dollars, which together with the fiscal tax policy, will cause the prize to be reduced considerably.
Given the current AUD/USD exchange rate, that’s 2 million in proper dollars for champions — before 45% tax on earnings exceeding AUD 180K.
The winners of Indian Wells, Miami, Madrid, ATP Rome and, if they are held, ATP Shanghai and WTA Beijing will earn more than AO finalists. pic.twitter.com/zgzES5G2Ko— Oleg S. (@AnnaK_4ever) December 29, 2022
For this reason, the finalists of the tournament will receive less money for reaching this round than the players who win Masters 1000 or WTA 1000 events such as Indian Wells, Madrid or Rome, a circumstance that has not always been the case and that has caused the fall of the Australian dollar compared to January 2022.
Finally, the tournament has announced an enhanced experience for players competing in the AO Junior Championships, with a new focus for 2023 and a variety of initiatives designed to welcome players back to Grand Slam events, including a grant from $500 trip for all participants.
MALE AND FEMALE INDIVIDUAL ROUND AWARDS
- Champion: $2,975,000
- Finalist: $1,625,000
- Semifinals: $925,000
- Quarterfinals: $555,250
- R16: $338,250
- R32: $227,925
- R64: $158,850
- R128: $106,250
- Pre-Phase 3: $55,150
- Pre-Phase 2: $36,575
- Pre-Phase 1: $26,000
MALE AND FEMALE DOUBLE AWARDS
