Sinner's Wimbledon prize money cut significantly due to taxes - Photo: REUTERS
At the same time, he also successfully took revenge when he lost to Carlos Alcaraz in the "super classic" final at Roland Garros in June.
His reward, in addition to the trophy, is a record amount of prize money. Although Wimbledon increased the prize money for the champion this year, it does not mean that the winner can pocket 100% of what he receives.
According to the announcement of the Wimbledon organizing committee, this year's men's and women's singles champions will be awarded the same amount of 3 million pounds (about 4.05 million USD). This is an extremely attractive number compared to the two previous Grand Slam tournaments. Specifically, the prize money for the Australian Open champion is 3.5 million USD, and the French Open is 3 million USD.
However, the figure of more than 4 million USD above is only the initial prize. The actual amount of money received by men's singles champion Jannik Sinner and women's singles champion Iga Swiatek is actually lower, even much lower. And the reason comes from the fact that they have to pay taxes.
According to financial magazine Forbes, each player will lose about half of their prize money in taxes. Andreas Bosse, a Monaco-based tax consultant, said Sinner and Swiatek will lose about 20% due to withholding tax, under UK rules.
They will then have to pay an additional amount after deducting related expenses. In total, both will have to pay taxes at a rate of 45% of the prize money, equivalent to about $1.8 million.
Meanwhile, Sean Packard, tax director at athlete wealth management firm OFS Wealth, said the $4.05 million could be taxed effectively at a rate of 36.52%. That would mean each athlete would lose $2.5 million in prize money from their Wimbledon win. Regardless of which expert you ask, Jannnik Sinner and Iga Swiatek will both see their actual prize money cut significantly.
The women's singles champion will then have to pay additional income tax in Poland, where she could lose an additional $162,000. Sinner is luckier than Swiatek. Although born in Italy, Sinner lives primarily in Monaco, where tax policies are more relaxed. So Sinner won't have to pay any income tax.
According to Forbes estimates, although Sinner is the world's number 1 tennis player, his income is not too high compared to his defeated opponent. Specifically, he has earned a total of 26.6 million USD from money on and off the court. Meanwhile, Carlos Alcaraz's income is up to 42.3 million USD and he is the best earning tennis player in the world at the present time.
Source: https://tuoitre.vn/sinner-swiatek-mat-nua-tien-thuong-2025071511391545.htm
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