The plunging value of the pound since the Brexit vote last summer has contributed to prize fund hikes at Wimbledon in 2017 so that stars will not have to endure big ‘real terms’ drops in income.
The move will see the winners’ cheques for champions in the singles competitions soar past £2m for the first time per The Mail.
The precise prize details will be announced this week but the All England Club have confirmed that they have taken into account the lower value of the pound since Britain voted to leave the EU.
— Wimbledon (@Wimbledon) April 3, 2017
‘The AELTC takes into account the economic context of tennis worldwide, including any currency fluctuations, when determining its prize money contributions,’ said a spokeswoman.
Last year, Andy Murray and Serena Williams each won £2m for triumphing in their respective singles events.
At exchange rates applicable when 2016 prize money was announced, ($1.45 to £1) that was worth $2.9m.
But given that the Brexit vote has seen the pound’s value plunge, Wimbledon will need to pay a top prize of £2.24m to be worth $2.9m at today’s rates to keep prize money ‘stable’ for the majority of top players.
Culled from Mail Sport