Sloane Stephens will return to Miami Gardens, where she will seek to defend her Miami Open title, where there is record prize money on offer.

The tournament takes place between March 18 and 31 and will be the 35th time it has run.

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It is a Premier Mandatory tournament on the WTA Tour, meaning it is the highest level of event outside of a major, joining Indian Wells, Madrid and Beijing in that category.

With equal prize money for both the WTA and ATP events, the winner can look forward to a prize of $1,354,010, up from last year’s jackpot of $1,340,860. Meanwhile, the runner up will earn $686,000.

Each losing semifinalist, meanwhile, will earn $354,000, while those departing in the quarters will net $182,000.

A last-16 exit equates to a payday of $91,205 while defeat in the last 32 recoups $8,775.

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Players who go out in the first and second rounds will have the consolation of a prize of $16,425 and $26,430 respectively.

In the doubles competition, in which defending champions are Ashleigh Barty and CoCo Vandeweghe, who is currently injured, the winners will receive a record payout of $457,290, more than twice that of the runners up, who will earn $223,170. This is also a record prize, up from last year’s award of $439,350 and $214,410 respectively.

What ranking points are on offer at the 2019 Miami Open?

As this is one of the WTA Tour’s showcase events, the ranking points naturally reflect its importance.

The winner of the tournament will earn 1000 points towards their ranking, while the runner up will claim 650.

To put this into context, in Grand Slam play, the winner earns 2000 points and the runner-up 1300.

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Any player who reaches the quarterfinal will scoop 215 points and the round of 16 equates to a 120-point boost.

Players eliminated in the third round receive 65 points, while it’s 35 knocked out in the second round. Those beaten in their first match – and that includes seeded players entering in the second round after receiving a bye – will get 10 points.