The 103rd edition of the Australian Open started this week. The first Grand Slam tournament of the year 2016 will see another 10% increase in the total prize money pool which will take the total prize money for the entire competition to $44 million compared to $40 million offered in 2014.
Men and Women singles champions will take home $3.85 million each. The increase comes as part of yearly agreement where all four grand slams have been constantly increasing total prize money purse every year. Currently US Open is the highest paying grand slam with over $42.35 million offered in 2015 competition.
The tournament will be played on hard courts and will take place over a series of 16 courts including the three main showcourts – Rod Laver Arena, Hisense Arena and Margaret Court Arena. The latter was unveiled in 2015 with a capacity increase from 6,000 to 7,500 with fully operational retractable roof. Partly due to the new roof, the 2015 event set an all-time attendance record of 703,899 fans.