Australian Open 2017 Prize Money: Complete Purse and Earnings from Melbourne

A record amount of prize money will be on offer to those players competing in the 2017 Australian Open, although for the game's elite figures, no extra incentive will be needed to clinch the first Grand Slam of the calendar year.

As reported by BBC Sport last month, a whopping AUD$50 million (£29.4 million) will be up for grabs in Melbourne, with the winner of the men's and women's singles tournament taking home a cool AUD$3.7 million (£2.24 million) each, per the competition's official website.

The 14 per cent increase in the total prize fund this year adds another fascinating dynamic to one of the most anticipated events on the sporting calendar.

Here's a breakdown of the sums on offer to the players and a closer look at who may be taking home the biggest purse in both main draws.

Poosition	$	£
Winner	$2.7 million	£2.24 million
Runner-up	$1.4 million	£1.15 million
Semi-finalist	$664,000	£545,000
Quarter-finalist	$324,000	£266,000
Round 4	$162,000	£133,000
Round 3	$96,000	£79,000
Round 2	$58,000	£48,000
Round 1	$37,000	£30,000

For full prize-money details, visit the competition's official website.

Event Preview

Cameron Spencer/Getty Images

Although he lost his place at the summit of the ATP rankings to Andy Murray late in 2016, Novak Djokovic, the men's champion, is looking like the man to beat Down Under.

Not only did the Serbian star beat Murray recently in the final of the Qatar Open, he's been imperious at the Rod Laver Arena throughout his career. He won his first Grand Slam title in this tournament in 2008, and nine years on, he will be looking to win it for what'd be a remarkable seventh time.

As noted by the Times' Stuart Fraser, although winning the title itself will be Djokovic's main motivation here, he could also quickly reclaim his spot atop the standings:

Murray, by contrast, has endured his fair share of heartbreak in Melbourne. The Scot has made it to the final five times at the Australian Open but has come up short on every occasion. But rather than dampen his enthusiasm for the tournament, Murray has suggested those near misses will drive him on.

"I love this event," he said, per Kevin Mitchell of the Guardian. "I have been really close a number of times—it has just never happened for me, but I don't think that will change my mindset so much coming into the event this year."

PAUL CROCK/Getty Images

While the aforementioned duo are the players most will be looking out for, in Stan Wawrinka, a three-time Grand Slam winner, there's a big-game player in the draw, while Milos Raonic made encouraging progress in 2016, too.

Roger Federer, a four-time winner of the event, has slipped down the seedings; per Ben Rothenberg of the New York Times, he has a tough run to the final as a result:

Rafael Nadal will also have to do things the hard way if he's to add to his solitary Australian Open title that he clinched in 2009. The Spaniard is seeded down in ninth, although with no Djokovic and no Murray in his quarter of the draw, he may fancy his chances of putting a run together.

In the women's bracket, world No. 1 and defending champion Angelique Kerber will be confident of defending her title, but there's plenty of quality rivals.

PAUL CROCK/Getty Images

Having won the U.S. Open last year too, the German knows what's needed to get over the line in these high-pressure matches and tends to save her best for the big occasion. Even so, as noted by James Gheerbrant of the Times, the draw could have been kinder to her:

The most obvious challenge to Kerber's crown will be from Serena Williams. The superstar from the United States has won 22 Grand Slam titles, six of which have come at the Australian Open. Another triumph here would put Williams on 23 and ahead of the great Steffi Graf.

With that in mind, the second seed has spoken about the expectation that accompanies her at these events. "It's never easy for me. All I can do is do my best," she said, per BBC Sport. "I didn't come here to lose in the first round or the second round, or at all."

There's class throughout the women's top 10 seeds. Garbine Muguruza, down in seventh, showed her Grand Slam pedigree in 2016 with a win at the French Open; Agnieszka Radwanska and Simona Halep, seeded third and fourth, respectively, are still searching for their first win at one of four major tournaments, too.