2021-08-24 17:17:13 GMT+00:00 - Players at the 2021 U.S. Open will compete for a record $57.5 million in prize money and compensation when the tournament begins Monday. The USTA, ATP and WTA agreed to the prize structure, which actually decreases the winnings of the men"s and women"s singles champions from $3 million to $2.5 million and the runners-up to $1.25 million. There"s a tradeoff, however. Now, the U.S. Open qualifying tournament will have nearly $6 million in prize money -- up 66 percent from 2009. Players competing in the first round will receive $75,000, a hike of 23 percent. "We determined our round-by-round prize money allocations by engaging in an open dialog with the players and the management of both tours," said Stacey Allaster, the U.S. Open tournament director, in a news release. "We applaud their collective leadership in directing the 2021 US Open prize money to benefit the maximum number of players." Round-by-round individual prize money for the U.S. Open: Singles Winner: $2.5 million Runner-Up: $1.25 million Semifinalist: $675,000 Quarterfinalist: $425,000 Round of 16: $265,000 Round of 32: $180,000 Round of 64: $115,000 Round of 128: $75,000 Doubles (each team) Winner: $660,000 Runner-Up: $330,000 Semifinalist: $164,000 Quarterfinalist: $93,000 Round of 16: $54,000 Round of 32: $34,000 Round of 64: $20,000 Prize money also is increasing for competitors in the mixed doubles and wheelchair categories. The Open is scheduled to run through Sept. 12. --Field Level Media