Wimbledon prize money for the first time will surpass £ 2 million mark for the men’s and ladies singles champions. The All England Club will make the announcement on Wednesday. It is speculated that this year’s prize for the champions would need to be about £2.25million to equal the same dollar value as last year. The Brexit vote has sent the pound dipping against the dollar
In 2016, champions Andy Murray and Serena Williams each took home £2m, from a total pot of £28m. This was a 6.4% rise on 2015’s prize money. But this year the increase could be significantly larger as the All England Club aims to compensate for the falling pound.
The prize is expected to be a minimum of £2.25m to maintain its dollar value compared to previous years.
Last year’s tournament took place weeks after the referendum on Brexit, which sent the pound tumbling against the dollar. By the time Andy Murray lifted the trophy on Centre Court on 10 July, £1 was worth $1.29, down from $1.48 on 23 June – before the referendum’s result was announced. This means his £2m prize was worth $2.6m – $380,000 less than it would have been on the eve of the referendum.
The pound is currently at its post-referendum level again.
The All England Club would have to announce a significant increase to match the US Open, which in 2016 gave $3.5m (currently £2.7m) apiece to its singles champions. This year the Australian Open offered AUD$3.7m (US $2.8m), which at current sterling values (£2.2m) would push Wimbledon’s top prizes into third place among the Grand Slam rankings. The French Open’s top prize is €2.1m (£1.8m).
In 2017 both the Australian and French Opens made significant increases in their total prize pots, with the Melbourne tournament announcing a 14% rise, and the Paris tournament’s fund rising by 12%.