Wimbledon winnings increased as a result of Brexit

This year’s installment of Wimbledon will witness a significant increase in prize money, with both men’s and women’s winners guaranteed £200,000 more, taking the total to a mammoth £2.2million, reports the Daily Mail

However, it’s not only the winners but also participants who will be heavily rewarded, with the total prize money for the British event increasing to £31.6m from £28.1m during the previous year. 

To put the rise in rewards into perspective, even first round losers will bag at least £35,000 as the entire draw of players are set to benefit from the increase. 

The deterioration of the value of the pound due to Brexit has been a direct contributor to this hike in the prize money at Wimbledon 2017 so that players would not have to settle for lower sums of money. 

Last year’s winners Andy Murray and Serena Williams both took home £2m for their triumphs which translated to $2.9m according to the exchange rate that was in effect at that time. 

Due to the Brexit vote and the subsequent drop in the value of the pound, the prize money for the 2017 edition needs to be increased to £2.24m in order to amount to the same prize money from the previous year. 

A stability in the payments to participants will help maintain the same level of attraction for the event from the best players in the world and will also ensure that the level of competitiveness remains high during the tournament. 

With each successive round promising greater fortune, there will always be a desire from the players to perform better and reach the next stage. 

However, with the All England Association guaranteeing a decent sum of money for just participation, most players are sure to return home with some sort of monetary consolation despite any losses on the court. 

For potential qualifiers, this represents a great chance for them to take home a nice sum of money, but only if they can work their way into the first round.

If they can do that, they are guaranteed a nice £35,000, even if they go on to lose that game.

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