Carlos Alcaraz is expected to see a large portion of his £2.1 million French Open prize money deducted.
The Spanish star recently defeated Jannik Sinner in a captivating final on Sunday, a marathon match that lasted five hours and 29 minutes.
Alcaraz mounted a remarkable comeback, saving three match points in the fourth set before ultimately winning the epic contest with a scoreline of 4-6, 6-7, 6-4, 7-6, 7-6.
This victory marked his first French Open crown and third Grand Slam title overall, earning him a prize of £2.13 million.
According to tennis rules, prize money won at a tournament is subject to taxation in the country where the event is held. This means Alcaraz must pay a 30% tax to the French government, which is the standard local tax rate for earnings of this magnitude.
This rule requires the 22-year-old to pay a substantial £639,000 in taxes from his winnings.
Despite the significant deduction, his net earnings from the tournament will still amount to a considerable £1,491,000.
Alcaraz will not face further income tax on this specific French Open prize money in Spain, his home country. However, as he is registered as a Spanish resident, other income sources such as sponsorship deals could be subject to Spanish tax regulations.
Alcaraz has already accumulated £35.3 million solely from prize money throughout his career.
Prior to the French Open, he shared some insights into how he spends his winnings with the Tennis Channel, stating, “Not after every big win, but for example at the Grand Slams, if I reach the semi-finals, I like to buy myself a new pair of sneakers.”
He added, “If I feel like I had a good season, at the end of the year I`ll buy myself a nice watch.”
At his age, winning three Grand Slam titles puts him in rare company, with only legends like Bjorn Borg and Rafael Nadal reaching this milestone at a younger age.
Alcaraz is currently considered a joint favourite for the upcoming Wimbledon tournament, alongside Jannik Sinner, which is scheduled to start at the end of June.
