Tennis Player Jannik Sinner Secures $4 Million from Wimbledon Winnings, But Taxes Slash the Amount in Half - Here's the Reason Explained
**Monaco-Resident Tennis Star Jannik Sinner Wins Wimbledon Amidst Tax Advantages**
In a thrilling finale at Wimbledon, Jannik Sinner, a resident of Monaco, emerged victorious, securing the men's title and a £3 million prize (approximately $4.05 million). This win, however, comes with unique tax implications.
Unlike players from high-tax countries, Sinner, being a resident of Monaco, will not pay additional income tax outside of the UK. Monaco, a renowned tax haven, imposes no income tax on its residents, offering a significant financial advantage.
In contrast, players like Iga Świątek, the women's Wimbledon champion, hailing from Poland, will face double taxation, paying UK tax as well as an additional 4% tax in Poland. Carlos Alcaraz, the Wimbledon finalist, ranked by Forbes as the world's highest-paid tennis player with earnings of $42.3 million, also faces double taxation, as he is not a resident of a tax-exempt jurisdiction.
The UK taxes non-resident athletes on prize money and other tournament-related income at the same progressive rates as local taxpayers, without a personal allowance. For the 2025 Wimbledon singles champions, the prize was £3 million, with UK tax taking a 43–45% bite—amounting to about £1.3 million for the winner. Runners-up, who earn £1.56 million, see their winnings reduced by over £700,000 after UK tax.
Sponsorship and image rights tied to the tournament are also taxed in the UK, but this does not apply to Monaco residents, who can avoid further income tax at home. This tax efficiency is a major reason why so many elite athletes choose Monaco as their tax residence.
The combined prize-money pool for Wimbledon is $72.2 million, a 7% increase from the previous year. The effective tax rate for the Wimbledon prize is estimated to be 36.52%. Despite this, the winners, like Sinner, will retain the majority of their earnings without additional income tax at home, creating a significant financial advantage over players from high-tax countries.
Forbes' ranking of the highest-paid tennis players, based on earnings from the past 12 months, does not specify the exact breakdown between on-court and off-court earnings for each player, nor does it include any tax deductions or additional taxes paid. Sinner is ranked fifth in Forbes' list, with earnings of $26.6 million, while Świątek ranks fourth with earnings of $26.7 million.
In the lead-up to the tournament, Sinner defeated Novak Djokovic in the semifinals, while Świątek clinched the women's title the day before Sinner's victory. The Forbes ranking does not mention the number of tournaments won by each player in the past 12 months.
In conclusion, for tennis players residing in Monaco, like Jannik Sinner, winning at Wimbledon means paying the UK’s high rate of tax on prize money—about 43–45%—but retaining the rest without additional income tax at home. This creates a significant financial advantage compared to players from high-tax countries, who face double taxation and thus a much lower net payout. Sponsorship and image rights tied to the tournament are also taxed in the UK, but no further in Monaco, making it a popular choice for many elite athletes.
In the context of Jannik Sinner's Wimbledon victory, his status as a resident of Monaco offers a financial advantage in sports finance, as he will not face additional income tax outside of the UK, unlike high-tax country players such as Iga Świątek from Poland and Carlos Alcaraz. In contrast, these players often incur double taxation, paying both UK tax and an additional percentage in their home country.
This unique tax situation in Monaco extends to the tournament-related income, with sponsorship and image rights also untaxed in Monaco, providing an additional layer of financial advantage over players from high-tax jurisdictions, making Monaco a popular choice for many elite athletes when it comes to tax residence.
