Australian Open Tennis Prize Money
Prize money has increased 65% from 2012 to 2016 and has again increased another 14% from 2016 to 2017. Australian Open will pay out 50 million (Australian currency) in prize money in 2017.
Yearly Players Expense
Expenses can vary greatly on the pro tour depending largely on the players ranking and the location of the tournaments chosen. A conservative estimate would be in the range of $100,00.00 (US) per year. This would include entry fees, accommodations, food, travel, and equipment expense. A lower estimate would probably not include a coach, physical therapist, etc. The higher end paid out by the higher ranked players could enter the range of millions of dollars with their entourage.
Increase in Prize Money is Meaningful
This increase is more meaningful to those players struggling to meet the six figure yearly expenses. The increase in singles first round prize money from $34,500 (2016) to $50,000 (2017) does much to take the pressure off by achieving one-half of their average yearly expenses. On the players side the more expenses are met the more focus they can put on their training and performance, relieving the mental anxiety of ‘having’ to win to make expenses. While the higher ranked players have higher expenses their reward is invested more in actually winning the tournament.
Australian Open Leading the Way in Increase
The Australian Open is the first Grand Slam of the Year, thus setting a precedent for the following Grand Slam events; the French Open, Wimbledon, and the US Open. As the amount of prize money increases year after year, I wonder where the ending point will be? Obviously it is worth it to the sponsors to continue to increase the bottom line.
Conclusion
There are about 1500 professional tennis players on each tour – men’s and women’s. Of these only two get to the final of the Grand Slam events. At the Australian Open the pay out that affects the first round players will be meaningful to more players in the early rounds. Even the qualifying will be increased to singles first round qualifying loser receiving $6,250.00(Australian). The Australian Open Singles Champion will be more about the title than the money, although the money helps to ensure the quality of the entourage going forward. Hopefully, this increase in prize money will make it possible for those lower level players to find a higher level of success.
