Wimbledon sets new record with $56.6 million prize money

The All England Club announced on Wednesday that a record-breaking $56.6 million (£44.7 million) in prize money will be up for grabs at this year's Wimbledon tournament. 

This represents an 11.2% increase from the prize pot of the previous year, with the champions of the men's and women's singles events set to receive nearly $3 million (£2.35 million) each, while the runners-up will take home almost $1.5 million (£1.175).

During the pandemic, Wimbledon had reduced the prize money for its two marquee matches. However, the payout for reaching the finals of the singles competitions has now been restored to the same level as in 2019.

Ian Hewitt, chairman of the All England Club, expressed delight in offering record prize money to the competing players, with double-digit increases implemented across most of the events. He stated, "Our ambition with this distribution is to return the singles champions and runners-up prize money to the levels in 2019 prior to the pandemic while also providing deserved support for players in the early rounds of the event."

The prize money for Wimbledon's qualifying competition has witnessed a substantial increase of 14.5% compared to last year. Additionally, singles players who are eliminated in the first round of the main draw will receive $70,000 (£55,000), marking a 10% boost from the previous year.

The upcoming tournament is scheduled to commence on July 3 and will run until July 16. Novak Djokovic, who recently clinched his record 23rd Grand Slam title at the French Open, will defend his singles titles, while Elena Rybakina will aim to retain the women's crown after securing her first Grand Slam victory last year.