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Jul 9, 12:01 PM EDT

US Open singles champs to get record $3 million

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WHITE PLAINS, N.Y. (AP) -- The 2014 U.S. Open men's and women's singles champions will earn a record $3 million apiece this year.

The U.S. Tennis Association also announced Wednesday that the total purse for the tournament will be $38.3 million, an increase of 11.7 percent from $34.3 million last year. The previous winners of the final Grand Slam tournament of the season - Rafael Nadal and Serena Williams - earned $2.6 million in 2013.

Runners-up will get $1.45 million, an increase from $1.3 million.

Both the men's and women's doubles champions will earn $520,000, the highest in U.S. Open history. A player who loses in the first round of singles at Flushing Meadows will make $35,750, an increase of $3,750.

The U.S. Open starts on Aug. 25.

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