French Open purse climbs nearly 10% to $72.1M

The total prize money for next month's French Open is climbing nearly 10 percent to $72.1 million, tournament organizers announced on Thursday.

The men's and women's champions for the May 24-June 7 clay-court grand slam at Roland Garros will each pocket $3.25 million, with the runners-up in Paris each taking home $1.6 million. Losers of first-round matches will earn $100,000.

Spain's Carlos Alcaraz, 22, is the two-time defending men's champion and will be looking for his eighth grand slam title.

Coco Gauff, 22, is the reigning women's champion and will be seeking her third grand slam trophy.

Men's and women's doubles winners will earn $700,000, with $140,000 going to the mixed-doubles champions.

The purse for this year's first Grand Slam, the Australian Open, was $75 million, a 16% increase from the previous year.