Jannik Sinner is set to lose a significant portion of his Wimbledon prize money due to taxes. The Italian secured his first title at SW19 over the weekend, beating Carlos Alcaraz in an enthralling final.
Sinner came from behind to secure a 4-6, 6-4, 6-4, 6-4 win, and therefore banked £3million in prize money. Iga Swiatek pocketed the same amount too, with Wimbledon winners having equal prize pots shared between the players.
Sinner was gleaming with pride after being presented with his Wimbledon trophy by Princess Kate, and he went on to heap praise on Alcaraz for playing a starring role in producing yet another incredible clash between the pair.
It remains to be seen how Sinner will celebrate his success with his newfound funds – though he must remember that he will not see all of his £3m winnings, it has since emerged. Forbes report that the four-time Grand Slam winner will be taxed up to 45 per cent once related expenses are deducted.
It is viewed as ‘likely’ that Sinner would be hit with a tax rate worth 36.52 per cent, which means that he will lose £1,095,600, which will therefore take his winnings below £2m. Sinner won’t pay any additional taxes on that amount though as his primary residence in in Monaco, an area which is income tax-free.
Swiatek, in contrast, will have to pay an additional four per cent in taxes as she continues to live in Poland. Numerous tennis stars reside in Monaco currently, including Novak Djokovic, Daniil Medvedev, Holger Rune and Stefanos Tsitsipas.
Sinner will certainly be more preoccupied by the significance of his win rather than taxes over the coming weeks though. Speaking after his win over Alcaraz, he said: “It’s amazing to be in this position. We were talking before the match, we would never have thought to be in this position back in the days when I was young. This was only a dream; dream of the dream as it was so far away from where I am from.
“I am living my dream. It’s amazing. I want to thank my team and everyone who came here from this special day. You give me so much emotions on and off the court and we try to keep pushing and become a better tennis player, but mostly a better person.”
Content Source: www.express.co.uk