The Australian Open will offer a record total prize of $7.35 million with champions of both sexes earning approximately $440,165.

"This is great for women's tennis," said women's world No. 1 Martina Hingis of Switzerland, a three-time winner in Melbourne. "We have all been working towards equal prize money for a while and it is great that at the turn of the century, progress has been made. It is something we deserve and I appreciate that the Australian Open has done this."

Women players have long strived for equality at the Grand Slams but until this decision, the U.S. Open had been the only one of the four majors to give the men's and women's winners the same prize money.

"The U.S. Open has for many years awarded equal prize money," Tour CEO Bart McGuire said. "The USTA's support has been very important on this issue. With Australian Open 2001 now committed to equality, and increases for the women relative to the men at Roland Garros and Wimbledon in the past two years, we are making significant progress toward our ultimate goal of equal prize money at all Grand Slams and combined events."

On several occasions the idea of boycotting one of the Grand Slams had come up but there was never any action on part of the players.

"Equalizing prize money at the Grand Slams is a major goal of the WTA Tour," McGuire said. "It is a goal that we have preferred to approach through persuasion and diplomacy rather than through more aggressive means. Tennis Australia has responded very positively to our approach, and to the fact that women's tennis has generated record attendance and extraordinary worldwide publicity, as well as dramatically increased television coverage and television ratings."