The historic tennis fixture and the oldest Grand Slam competition, the Wimbledon, is getting a significant boost in prize money.
The All England Club announced recently that the tournament’s total prize pool will be significantly increased this year, reaching $56.5 million.
The Singles, both Men and Women, are by far the most cheered and followed events at Wimbledon. These two draws bring in the most Wimbledon tickets and now will have a $500,000 increase, going from $2.5 million to $3 million.
This aligns with the intensity and fan following, which have significantly increased since 2022, and Wimbledon is becoming the centre of attraction in the tennis world.
The prize money for those who lose in the first round of the singles tournament will be $69,500 each, up 10% from 2022.
In comparison, the total prize pool is up 17.6% from 2019, which is a good sign of excitement and fanfare returning. The 2020 edition of Wimbledon was cancelled, and the aftermath of this was that the 2021 prize money was also reduced.
The 2023 rewards for other segments are also rising. According to the All England Club, all of these rewards will see a double-digit increase.
The Wimbledon starts on July 3.
Speaking about the prize money, Ian Hewitt added that their primary goal is to bring it back to 2019 levels and empower the players at each round.
Despite its rich history, Wimbledon has not had a decent prize pool until now. This increase is on par with the rest of the Grand Slams.
The French Open offers awards valued at $54.6 million, and the 2023 Australian Open gave out $52.8 million. Last year’s US Open featured a prize pool of $60.1 million.
Novak Wants to Play Nadal Before He Retires
Rafael Nadal’s career is winding down, and 2024 could be his final year on tour.
And one of his greatest rivals hopes to play him at least once more. Fans with Wimbledon tickets anticipate it will be at this year’s Wimbledon.
“I have a lot of respect for a legend like him, with whom I hope to be able to play at least one more time before he retires,” Novak Djokovic said after being named the 2024 Laureus Sportsman of the Year.
The Serb added, “I have a lot of respect for Rafa. He is a good person and a legend of our sport; he is my most important rival. In Australia, I said I hoped to see him in one or two tournaments, and I hope to do that.”
World No. 1 Djokovic is the all-time men’s leader with 24 Grand Slam singles titles and is widely considered the GOAT of men’s tennis, while Nadal sits at 22 majors. Their longtime rival, Roger Federer, retired at 20.
It’s unclear if both will play the Italian Open following Madrid, but both are expected to play Roland Garros, which runs May 26-June 9.
Djokovic leads Nadal 20-7 on hardcourts, but Nadal leads 20-8 on clay. They are 2-2 on grass. In nine Grand Slam finals meetings, Nadal has won five times.
Although their relationship has been frosty at times, they’ve permanently opted to keep it professional on the court. Several media reports have different interpretations, but both players claim a healthy relationship.
It is still unclear if Nadal will enter the Wimbledon draw, and his participation at Roland Garros is pending. Given the proximity of the events and little lead time, the Spaniard would also have to make a choice.
Fans with Wimbledon tickets would hope otherwise, and Nadal would make it to England and have one last clash against Djokovic.
Wimbledon 2023 Earnings Out
A rain-affected Wimbledon and continued cost-of-living concerns failed to impact profits at The All England Lawn Tennis and Croquet Club.
According to newly filed accounts with Companies House, the club behind the Wimbledon Championships posted pre-tax profits of £36.6m for the year ending July 31, 2023, up from £25.7m.
Its turnover also increased from £350.1m to £383.5m over the same period, a new record.
In terms of Wimbledon, the club generated a turnover of £383.7m, up from £349.1m, while its pre-tax profits totalled £37.3m, down slightly from £39.7m.
During the year, the average number of people employed by the club rose from 433 to 497.
The 136th Wimbledon Championships was staged between Monday, July 3, and Sunday, July 16, 2023.
Carlos Alcaraz won the gentlemen’s singles, defeating Novak Djokovic in the final, and Marketa Vondrousova won the ladies’ singles, beating Ons Jabeur.
In the UK, the television audience for the gentlemen’s singles final peaked at 11.3m and 4.5m for the ladies’ singles. A total of 275m hours were watched on BBC TV across the 14 days.
The Championships also delivered a record-high surplus of £48.7m, which will be distributed to the Lawn Tennis Association, the sport’s national governing body.
A statement signed off by the board said: “A full year of events and matches took place during the year, including an overseas tour to the US.
Members enjoyed an investment portfolio comprising a mixture of listed UK and international equities, collective investment funds and fixed-interest investments.
“The company invests relatively prudently to balance capital preservation with income generation and capital growth. During the year, the portfolio saw increases in market value.”
The results come after Wimbledon chiefs said in November 2023 that they were surprised after Wandsworth Council delivered a significant setback to their plans to expand the All England Club.
The plan would have been ideal for increasing Wimbledon tickets in the next five years and building more revenue.
Councillors rejected planning permission to build a new 8,000-seater show court and 38 other courts on Wimbledon Park.
Merton Council, responsible for most of the land in question, had already backed the proposals.
Mayor of London Sadiq Khan is to the final say and was expected to decide in December 2023, but one has yet to be announced.
Referencing the plans in its accounts, The All England Club said the development would allow the qualifying event for The Championships to be held on this site, positively impact local communities, and provide access to some areas of the park year-round.