Prize money at this year's US Open will top $50 million (43.3 million euros), organisers confirmed Tuesday, once again making the tournament the richest event in tennis.

The United States Tennis Association said in a statement that the tournament purse had been increased by $4 million, taking it up to $50.4 million in total.

The winners of the men's and women's singles will each pocket $3.7 million, while prize money for each round would increase by an average of 7.5 percent compared to 2016.

The men's and women's doubles champions would take home $675,000 while the purse for the qualifying tournament had increased to $2.9 million -- a 49.2 percent increase over last year.

"Five years ago, we committed to the players that total player compensation for players would reach $50 million at the US Open, and we are honoring that commitment," USTA chairman Katrina Adams said in a statement.

This year's US Open will be held from August 28 to September 10.

Source: AFP