By Scott Spits
Prizemoney for the Australian tennis summer has tipped above $100 million for the first time, with Australian Open players to share in a record $76.5 million.
The lure for players to travel down under has never been more stark. The Australian Open bounty has more than doubled in the past decade – up from $30 million in 2013.
More than $75 million is up for grabs at Melbourne Park in January.Credit:Getty Images
While this year’s singles champions will pocket cheques close to the $3 million mark, those individual earnings are well down on the more than $4 million given to the two champions in 2020.
Tennis officials have in recent times embarked on a process of equalisation, determined to spread the wealth more evenly and improve the lot of those players usually ranked outside the top 100.
Prizemoney increases for the Open are between three and four per cent across the board. A player who exits the Australian Open in the first round will pocket $106,250.
But the biggest factor behind an overall prizemoney increase of 10.8 per cent for Australian tournaments compared to 2022 levels is the launch of the United Cup, a mixed-gender teams event loosely based on the Hopman Cup concept, an exhibition event held in Perth for 30 years until 2019.
Not only are players who represent their country in the 18-nation United Cup – staged in Sydney, Brisbane and Perth with the finals stage held in the NSW capital – eligible to accrue valuable rankings points, they will share in a $23 million prize pool.
This year’s $100 million high-water mark in Australia is part of a pledge made by Tennis Australia boss Craig Tiley in 2018 to increase the Australian Open winnings pool. Novak Djokovic, who at that stage was on the ATP player council, had led a player push for participants to receive a greater share of tournament revenue.
“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,” said Tiley.
“We want to ensure Australia is the launchpad for the global season and that we see as much of them as possible.”
Tennis Australia and its flagship Australian Open event came under significant financial pressure during the past two COVID-impacted tournaments, copping a hit estimated at $140 million for staging the delayed 2021 tournament, incurring millions in hotel quarantine costs for players and support staff.
TA had to eat into $80 million of reserves built up over the years and got a loan of more than $40 million from the Victorian government.
But the financial situation has been quickly turned around. Last month the sport’s governing body put pen to paper on a multimillion-dollar extension of its domestic broadcast contract with Nine Entertainment Co.
Nine, the owner of this masthead, is locked in to broadcast Australian tennis events until 2029, having originally secured the rights to tennis in 2018.
At the time Nine said cash for the deal was an average of $85 million a year, but the deal also includes advertising credits, promotions and other services.
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