Prize hike at Wimbledon
London -The winners of this year's Wimbledon singles' titles will net a staggering one million pounds in prize money after the All-England Club announced a significant rise in the rewards on offer at the grass-court grand slam on Tuesday.
The credit-crunch defying figures mean reigning men's champion Roger Federer and women's holder Serena Williams will benefit from an increase of 150 000 pounds on the winning purses in 2009 if they retain their crowns in south-west London.
The total prize money for the event has been increased by 1.175 million pounds to 13.725 million pounds.
All England Club chairperson Tim Phillips insisted the landmark million pound prize reflected the tournament's desire to provide a fitting reward for the world's best players.
"Wimbledon exists in a highly competitive global marketplace and it is the world's best players who create and drive the interest," Phillips said.
"It is important that we offer a level of prize money which is both appropriate to the prestige of the event and which gives the players full and fair reward.
"It shows that the championships are successful and it shows that we care about the players."
The purse for the champions at Wimbledon has now doubled in the last 10 years and is just below the $1.6 million awarded to the winners of the 2009 US Open.
The runners-up in the men's and women's events at Wimbledon, which runs from June 21 to July 4 this year, will bank 500 000 pounds, while the semi-finalists will take home 250 000 pounds.
Winning the men's and women's doubles events is worth 240 000 pounds per pair, while even players in the singles who are knocked out in the first round will earn 11 250 pounds for their unsuccessful day's work.
But as well as keeping Wimbledon firmly established as the world's premier tennis tournament, the decision to raise the prize money to unprecedented levels has also been influenced by the slump in the value of the pound.
"We need to offer prize money that is competitive in the international market," Phillips said.
"That means exchange rates become a consideration and the fact that sterling has fallen by 20 to 25 percent against the dollar and the euro over the past three years means the increases are slightly bigger than has been the case over the last few years.
"The players are what this tournament has been all about and we have to reward them fairly for their extraordinary efforts in this extremely competitive individual global sport."