This prestigious tennis tournament will see its prize money hit a record

Fortune

The most prestigious tennis tournament in the world is raising its pay for top men and women players.

Wimbledon, which is one of four major tennis tournaments for professional players, announced Tuesday that the prize money it will pay this year will go up to £26.75 million, or over $40 million — a 7% increase over the prior year. The men’s and women’s singles champions will each earn £1.88 million, or $2.8 million — an increase of £120,000 over last year, according to the London Evening Standard newspaper.
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The pay increase makes Wimbledon the highest-paying tennis tournament in the world. The 2014 U.S. Open, for instance, offers a total prize money package of £25.1 million, or $38 million. The winners of the event — Marin Cilic and Serena Williams — each earned £2 million, or $3 million.

According to Wimbledon’s website:

In the last four years the…

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