Wimbledon prize money is set to exceed £2m for the first time

Georgina Varley
Day Thirteen: The Championships - Wimbledon 2016
Wimbledon prize money is set to exceed £2m (Source: Getty)

Prize money for this year's Wimbledon singles champions will exceed £2m for the first time in the competition's history.

The All England Lawn Tennis Club's (AELTC) decision to increase the winnings takes into account the low value of the pound against the dollar since the Brexit vote. This move will ensure that foreign players do not suffer a loss in income when their winnings are converted into dollars.

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At the time of the competition last year, the exchange rate was $1.46 to the pound. Singles champions Andy Murray and Serena Williams received £2m each, a figure approximately equal to $2.92m.

The value of the pound now stands at $1.29, meaning that the 2017 prize would only be worth $2.58m.

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A spokesperson for Wimbledon told The Times: "The All England Lawn Tennis Club always takes into account the business and economic context of tennis worldwide, including any currency fluctuations, when determining prize money for each year's championships."

It is thought that this year's total for the singles champions will need to be about £2.25m if the AELTC intends to equal the same dollar value as last year.

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