Australian Open champs get increase of prize money

It was announced on January 10 that the prize money will be increased for the the Men's and Women's singles champions at the Australian Open, make it $1.42 million, which is an increase of 12%.

All of the extra moeny is going to the singles finalists, Steve Wood, the Tennis Australia Chief executive, said in a statement on Saturday.

"This is an investment in the major revenue source for our sport in this country," Wood said. "We want to work with the players to further elevate the status of the Australian Open."

The start of the Australian Open is on Monday, January 19.