Australian Open publishes the final prize money: $ dollars for all!
by LORENZO CIOTTI | VIEW 367
The Australian tennis season has officially begun, with the absolute debut of the United Cup, a brand new event for nations that will unite men and women and will be played in three different Australian cities, replacing the ATP Cup.
The first of a long series of events on the oceanic continent, which will end with the most awaited and prestigious tournament, the Australian Open. This Thursday, the tournament held annually in Melbourne, has made public the prize pool of this new edition of the tournament and there have been surprises.
The treasury allocated for the entire Australian tennis season is 100 million Australian dollars, spread over all the tournaments scheduled in January, including the new entry United Cup. While the 2023 Australian Open final prize money increased by 3.4%, this was not enough to compensate for the fall of the Australian dollar, the rise of the Us Dollar and the country's tax policy, which resulted in a lower amount for players than to that of other major events.
The way of distributing the prize pool considerably favors the majority of players who fall into the qualifying phase or in the first rounds of the draw. Players who exceed $180,000 will face a steep reduction. The winners, for example, will receive AUD 2,975,000, approximately USD 2 million, which together with the tax policy, will result in a significant reduction in the prize.
Paradoxically, winning Masters 1000 or WTA 1000 events such as Indian Wells, Madrid or Rome will guarantee a higher income for tennis players. Australian Tennis CEO Craig Tiley explained: "It is vital to the continued rise of the Australian Summer of Tennis to provide relevant and relevant playing opportunities and to ensure that the world's best players are adequately rewarded.
We want to make sure Australia is the springboard for the global season. They inspire us all to participate in this great sport, as well as inspire future generations. At the Australian Open, we increase the prize pool for every round, from qualifying to the final, with the largest increases in the early rounds, where these substantial rewards help players invest in their careers and, in many cases, establish themselves for success throughout the year."
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