Even though the British pound has dropped 25 percent against the dollar and 11 percent against the euro since last year’s Wimbledon, the fine folks at the All England Club have decided to increase the prize money by 6.2 percent for this year’s tournament.
The prize for each of the men’s and women’s champions went up by 13.3 percent to 850,000 pounds ($1.24 million), organizers said Tuesday, but the pound’s weak exchange rate means that translates to a reduction in dollars of 17 percent from last year’s $1.49 million.
Buoyed by a new television contract in Asia and the extension of its commercial agreement with IBM, the tournament has also raised the total prize fund for the June 22-July 5 tournament by 6.2 percent to 12.55 million pounds ($18.38 million).
But that still compares unfavorably to last year’s $23.46 million despite the increase being nearly double the 3.4 percent hike the All England Club managed 12 months ago.
All England Club chairman Tim Phillips said the event was doing what it could to help offset the weakened exchange rates and maintain the prestige among players of the only grass-court Grand Slam.
“Most of the players here don’t bank in sterling,” Phillips said. “We have to be mindful of the fact that a year ago it was $2 to the pound.”
It’s strange to hear that the value of the pound is dropping against the dollar — it’s usually the other way around. As a result, the likely winners of the 2009 Wimbledon tournament will actually receive less money than they would have in 2008. That is, of course, unless they’re from the UK, and the greatest hope there lies in Andy Murray. So, Roger Federer, Rafael Nadal, Novak Djokavic, Serena Williams, and Dinara Safina, the All England Club apologizes in advance. Still, $1.24 million (936,609 euro) should be enough to brighten your spirits.
Despite these monetary woes, the All England Club has invested a good deal of sterling into tennis’ premier event. This year’s Wimbledon will see the unveiling of the brand new retractable roof over Centre Court.
