Melbourne, Dec 21 (IANS) The Australian Open, the first Grand Slam tournament of the tennis season which will be held between January 16-29, will increase its prize money by 14 percent compared to the previous year, the tournament’s organisers announced on Wednesday.

The new amount will reach 34.8 million euros ($36.2 million), while the winners of the men and women singles will earn 2.5 million euros ($2.6 million) each, reports Efe.

Those eliminated from the first round will earn 34,000 euros ($36,000), while those defeated in the third round will get 90,500 euros ($94,292).

The prize money in the preliminary rounds has also increased, as those eliminated from the qualifying competition will receive 17,400 euros ($18,129).

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