Australian Open 2017: Tournament prize money raised by 14 percent, touches A$50 million

Reuters: The Australian Open has increased its total prize purse by 14 percent to a record A$50 million ($36.19 million), with A$3.7 million up for grabs for the winners of the singles tournaments, organisers said on Wednesday.

The prize money for the season`s opening grand slam has more than tripled since 2001, and risen A$10 million since 2014.

Tournament director Craig Tiley said in a statement that organisers were focused on increasing compensation for players in the early rounds and qualifying, with first round losers set for an A$50,000 windfall, up 30 percent from last year.

Similarly, second round prize money has risen 29 percent to A$80,000, with third and fourth round losers to earn A$130,000 and $220,000 respectively. Total prize money for the quarter-finals, semi-finals, runners up and winner is up 9 percent.

The Australian Open starts on Jan. 16 in Melbourne.