It’s unbelievable: Iga Swiatek takes home the $4 million prise at Wimbledon, but taxes will cut that amount in half. This Is Why.

 

Polish tennis star Iga Swiatek won the womens’ title at Wimbledon on Saturday, beating out American Amanda Anisimova and securing a $4 million prize before Jannik Sinner and Carlos Arcaraz play Sunday—though tax analysts told Forbes that Świątek and the male champion’s winnings will be cut nearly in half after paying required taxes.The U.K. taxes prize funds from Wimbledon and earnings from endorsements on equipment used in the tournament, and they also face an initial withholding tax of 20% before paying a tax up to 45% after related expenses are deducted, according to Andreas Bosse, an international tax legal consultant based in Monaco.

 

Wimbledon’s £3 million grand prize (about $4.05 million), awarded to both the women’s and men’s champions, would likely be taxed at an effective rate of 36.52%, Sean Packard, OFS Wealth’s tax director, told Forbes, lowering the winnings down to at least $2.5 million.

 

Swiatek will likely also pay an additional 4% tax in Poland, reducing her championship winnings by an additional $162,000.

 

Swiatek beat Anisimova in just 57 minutes during Saturday’s match, winning 6-0 and 6-0 to secure her first Wimbledon title. The match marked the first time in the Open Era of tennis matches—since 1911—that a woman won a singles title at Wimbledon without missing a single game, and is the first time since 1968 that it’s happened at any Grand Slam match.Alcaraz will likely face Spain’s highest income tax rate of 47% for any earnings he takes home Sunday, Packard said, though Alcaraz would receive a tax credit for paying the U.K.’s levies to avoid being taxed twice. A combined income tax of at least 47% would reduce Alcaraz’s grand prize to $2.1 million, should he win. Spain also incurs a wealth tax for its wealthiest residents, though it’s not immediately clear what additional rate Alcaraz would pay