News 
 National News 
 National 
 Sport 
 Prize rise negated by dollar dip 

Prize rise negated by dollar dip

9/10/2008 1:00:01 AM

OVERALL prizemoney for January's Australian Open will rise 6.8 per cent to a record $22 million in 2009, but organisers will be hoping for a recovery in the fortunes of the declining Australian dollar to avoid what could effectively be a drop in average player earnings in US dollar terms.

In the days before the start of the 2008 Open, the Australian dollar was trading at close to 90 US cents; in the weeks since the global credit crisis intensified, it has plunged from a high of 98 US cents to yesterday's rate of well below 70 - thus swallowing the prizemoney increase confirmed at yesterday's tournament launch. Regardless of what happens in the coming months, the two singles champions will be slightly insulated, with each receiving cheques for $1.62m, up 18 per cent.

"We can't control the Australian dollar, so what happens to the Australian dollar in January we just don't know," said tournament director Craig Tiley. "Our prizemoney stays the same and the players know this."

The nature of the blue Plexicushion surface laid this time last year in preparation for its Melbourne Park debut could deliver a more subtle change, with the possibility of slightly faster playing conditions in 2009, according to Tiley. Resurfacing work will begin next week.

"The feedback we got from the players was that they liked that pace that we had last year, but over the course of a court's life cycle, when it is down for a little bit longer, there's a natural pick-up on pace," he said. "It's very marginal, but we monitor it."

Australian junior Bernard Tomic is a likely wildcard recipient into his first grand slam main draw, while Tiley said discussions with the management of defending women's champion Maria Sharapova, who has not played since July due to a shoulder injury, "indicated she's targeting the Australian Open as the place that she'll start 2009".

Queensland's former world No.3 and three-time grand slam finalist Wendy Turnbull will be inducted into the Australian Tennis Hall of Fame during the tournament, which runs from January 19 to February 1.

Print
Increase Text Size
Decrease Text Size



MOST POPULAR

Domain - The Key to your property dreams
 
Blue Mountains Wonderland
 SEND...
 SAVE...
 SHARE...