The Australian Open will offer a record prize pot of £55m at this year's tournament - but players are said to be "disappointed" that it does not represent a greater share of the Grand Slam's total revenue.

Total prize money of A$111.5m represents a 16% increase on last year and is the largest player fund in the tournament's history.

The singles champions will receive $4.15m (£2.05m) - a 19% increase on the amount that the 2025 winners, Madison Keys and Jannik Sinner, took home.

All singles and doubles players competing at the season-opening Grand Slam will get a minimum increase of 10%.

"This increase demonstrates our commitment to supporting tennis careers at every level," said Tennis Australia chief executive Craig Tiley.

The move comes after a group of leading players ramped up the pressure on the Grand Slam tournaments in October over increased prize money and greater player welfare.

But they are "likely to be disappointed" their key demands of the Australian Open and other Grand Slams have been "largely ignored", a source close to the players' group told BBC Sport.

Star names including Sinner, Aryna Sabalenka, and Alexander Zverev are among the top 20 men's and women's players asking the four majors to increase the prize money-to-revenue ratio for the whole field.

The group also want more consultation about the structure of the sport, plus increased contributions from the Grand Slams into pension, healthcare and maternity pots.

While Tennis Australia's 2025 accounts have not yet been made public, the Australian Financial Review reported, external the governing body - whose income is primarily generated by the Australian Open - earned $697.2m (£346m) in total revenue.

That figure would mean this year's Australian Open prize money is about 16% of the organising body's revenue.

In 2025, the US Open provided 16% of its previous year's revenue to the players, with Wimbledon (13%) and the French Open - which does not make its figures available - offering a lower share.

The leading players have asked each Grand Slam for a staged increase over the next five years, eventually leading closer to the 22% mark which they receive at some of the ATP and WTA combined tour events.

This year's rise in total prize money means the Australian Open is offering more than Wimbledon (£53.5m) and the French Open (£47.5m) did in 2025, although it is still behind the US Open (£67.4m).

The Australian Open starts in Melbourne on 18 January.