US Open Prize Money set to hit a record amount in 2023, hits $65m in most of any Grand Slam

New US Open Prize Money record reaches $65 million, the largest among the Grand Slams.

The US Open tennis tournament is set to achieve a record-breaking total prize money pool of $65 million this year, according to the United States Tennis Association (USTA). This figure represents a significant increase, fueled by rising covered expenses. Last year's total payout was around $60 million.

The action on the singles main draws kicks off on August 28 at the USTA Billie Jean King National Tennis Center, with the women's final slated for September 10 and the men's final on September 11.

For players who exit earlier in the tournament, there will be changes in compensation. First-round singles exits will receive $81,500, as opposed to $80,000 in 2022 and $58,000 in 2019.

In the doubles category, champion teams will receive $700,000 per team, a step up from the $688,000 granted in 2022.

The USTA has increased the financial provisions for both male and female participants in singles, doubles, mixed doubles, as well as qualifiers and main draw wheelchair events.

This includes providing competitors with $1,000 travel vouchers for the first time; offering a second complimentary hotel room at the official tournament hotel to all players instead of just one room; providing a $600 per day stipend (up from $300) for alternative lodging options; elevating meal allowances; and funding racket stringing.

After factoring in these additional expenses from the overall compensation paid, the prize money derived from the US Open results is approximately $60 million. This stands as the highest amount in any Grand Slam tournament this year.

Considering exchange rates at the time of events, Wimbledon offered around $56.5 million in prize money, the French Open around $54 million, and the Australian Open around $53 million.

2023 marks the 50th anniversary of the US Open becoming the first sporting event to award equal prize money to both men and women. Individual champions of both genders will take home $3 million this year.

This represents a 15% jump from the $2.6 million prize money in 2022, but it remains below the pre-pandemic payout of $3.9 million awarded to each winner in 2019.