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2012 Australian Open to be richest Grand Slam

The 2012 Australian Open will be the richest event in Grand Slam history, as the total prize pool will be about $24.7 million (USD) with the men's and women's winners each claiming approximately $2.2 million.

The tournament announced the bump in money Tuesday for next year's tournament, which will be held January 16-29. There will also be a women's legends event. The Aussie Open will welcome three-time champion Martina Hingis back to Melbourne.

The tournament's organizers also announced Hawk-Eye will be introduced on Margaret Court Arena, meaning the line-calling system will be on all three showcase courts. It's already in use at Rod Laver Arena and Hisense Arena.

"Our mission is to continually improve the Australian Open experience for both the players and fans and the 2012 event is ready to deliver on every level," Tennis Australia CEO Steve Wood said.

Novak Djokovic defeated Andy Murray in the men's final last year, while Kim Clijsters won the women's championship in 2011.