Australian Open organizers announced a big increase in prize money for the 2013 tournament, with players bowing out in the early rounds standing to earn a lot more.
The Grand Slam was in threat with players, including Roger Federer, Rafael Nadal and Novak Djokovic, seriously considering boycotting the year's first Major, after they demanded a bigger slice of the revenue generated.
The men's and women's singles champions will go home with a sizeable prize money of AUD$2.43 million (USD$2.55 million), while the total prize money will be a record $30 million ($31.4 million).
First, second and third round losers will also earn a hefty pay check, with losers in the opening round getting $27,600 ($28,964), a percentage increase of 32.7 percent from last year.
The second round prize money has been increased by 36.6 percent to $45,500 ($47,753), while third round losers will receive $71,000 ($74,516), an increase of 30 percent from last year.
Pre-quarterfinals, quarterfinals and semi-finals prize money have also gone up considerable, by 16 percent from 2012.
"Our motivation is to make a major contribution toward helping ensure professional tennis players can make a decent living," Australian Open Tournament Director Craig Tiley told the tournament's official website. "As we have said in the past, it is a real issue and needs to be urgently addressed throughout the sport.
"That is why the biggest increases are in the earlier rounds, qualifying and doubles which in effect rewards a lot of the lower ranked players for their achievements which, by the way, should not be undersold.
"To just reach the main draw of a Slam, a professional tennis player has to be among the top 100 in what is one of, if not the most, competitive professional sport in the world.
"At the same time we also still want to continue to recognise the incredible drawing power and contribution of the top players.
"It is always a balance which is why we undertook unprecedented consultation on this subject with the tours and players who have been extremely supportive.
"We will not be stopping here. There will be more talks and more increases during the next four years. This is just a very positive first step."
The Australian Open is scheduled from January 14-27.
To read the entire breakdown of the prize money for 2013, click here.
