Wimbledon winner Iga Swiatek's $4 million prize is predicted to be mostly claimed by taxes, accounting for roughly half of the total sum.
In the recent Wimbledon tournament, Iga Swiatek made history by winning the women's title in just 57 minutes, a significant achievement in tennis history. Meanwhile, Carlos Alcaraz, if he wins the men's final in 2025, will receive a grand prize of approximately $4.069 million. However, the tax implications for these champion winnings are noteworthy.
For Carlos Alcaraz, should he claim the men's title, he will be subject to Spain's highest income tax rate of 47%. As a Spanish resident, he will also pay taxes in the UK, where the Wimbledon prize is subject to taxation. After applying the Spanish top tax rate, Alcaraz’s net earnings from the Wimbledon championship prize would be reduced roughly by half, resulting in around $2.1 million after taxes.
On the other hand, Iga Swiatek, a Polish player, is likely to pay an additional 4% tax in Poland, reducing her championship winnings significantly. The runner-up prize at Wimbledon, approximately $2 million, would also be reduced to $1.2 million if taxed at the 36.52% rate.
The combined prize-money pool for Wimbledon this year is $72.2 million, a 7% increase over the previous year. Jannik Sinner, who will pay no additional income tax outside of the U.K. because Monaco is his primary residence, ranks third in earnings with a combined $26.6 million, just behind Iga Swiatek who earns $26.7 million. Forbes ranks Carlos Alcaraz as the world's highest-paid tennis player with a combined $42.3 million in earnings.
The men's final will air in the U.S. on ESPN, ESPN+, and Disney+, with an encore presentation at 3 p.m. EDT on ABC. The final match will take place on Sunday at 11 a.m. EDT.
Further reading can be found in Forbes articles such as "Coco Gauff's $2.9 Million French Open Prize Nearly Halved After Taxes" and "Why Novak Djokovic And Other Top Tennis Stars Call Monaco Home". It's essential to understand the tax implications for these tennis stars as they compete for the prestigious Wimbledon title.
In the event that Carlos Alcaraz wins the men's final in 2025, he would earn approximately $4.069 million, but after paying Spain's highest income tax rate of 47% and the UK's tax on the Wimbledon prize, his net earnings would be around $2.1 million. Meanwhile, Iga Swiatek, a Polish player, would also face significant tax implications, as a 4% tax in Poland would result in a reduction of her championship winnings, leaving her with approximately $1.2 million, assuming she is the runner-up at Wimbledon.
