Sinner Claims Wimbledon Title, Faces Significant Tax on Prize Money
Jannik Sinner has triumphed at Wimbledon, securing his first-ever title at the prestigious tournament. The victory, however, comes with a ample tax implication, as both men’s and women’s champions are subject to UK taxation on their winnings.
Sinner defeated Carlos Alcaraz in a hard-fought four-set final on Sunday. While the exact prize money is not explicitly stated as £3 million in this excerpt, it is implied to be a significant sum. Like the women’s champion, Iga Swiatek, who won her final on Saturday, Sinner will see approximately half of his prize money go towards taxes.
According to tax expert Sean Packard, as reported by Forbes, both Swiatek and Sinner will face a UK tax rate of “an effective rate of 36.52%” on their winnings. This contrasts with Alcaraz’s previous Wimbledon winnings, which were taxed at Spain’s higher rate. Sinner,residing in Monaco,will not incur additional income tax outside of the UK.
The match itself saw Sinner overcome Alcaraz with a score of 4-6, 6-4, 6-4, 6-4. This marks Sinner’s fourth grand Slam tournament win, adding the wimbledon title to his previous victories at the Australian Open and US Open. Notably, Sinner’s win comes after a three-month ban for testing positive for a banned anabolic steroid last year. His performance at Wimbledon is seen as a significant achievement,particularly after his recent French Open final loss to Alcaraz.
