Novak Djokovic is the defending men's singles champion ©Getty Images

This year’s total prize money for Wimbledon will be a record £40.3 million ($50.3 million/ €47.4 million) with the men’s and women’s singles champions set to earn £2 million ($2.49 million/ €2.35 million) each.

The organisers made the announcement as The All England Lawn Tennis Club is set to celebrate the centenary of the Centre Court at Church Road.

This year’s Wimbledon will also see full capacity crowd attending the tournament for the first time since 2019.

The total prize money has increased by 11.1 per cent since 2021.   

A total of £10.6 million ($13.2 million/€12.47 million) was paid in lieu of prize money to players who would have qualified for direct entry after the event was cancelled in 2020.

"From the first round of the Qualifying Competition to the Champions being crowned, this year’s prize money distribution aims to reflect just how important the players are to The Championships as we look to continue to deliver one of the world’s leading sporting events, and with a particularly special tournament ahead of us as we celebrate 100 years of Centre Court on Church Road," Ian Hewitt, chairman of the All England Club, said.     

Singles players can pocket £50,000 ($62,446/€58,838)  if they win the first-round match in the main draw, which sees a 4.2 per cent increase on 2021 and an 11.1 per cent increase on 2019.

Prize money for wheelchair and quad wheelchair athletes have increased by a whopping 40.1 per cent compared to 2019.

The Grand Slam this year is surrounded by controversy after Russian and Belarusian players were banned from participating because of the war in Ukraine.

This decision forced the Association of Tennis Professionals, Women's Tennis Association and International Tennis Federation to strip the event of ranking points.

Serbian Novak Djokovic is the defending men’s singles champion while the retired Ashleigh Barty of Australia bagged the women’s crown last year.

This year’s Wimbledon is scheduled to be held from June 27 to July 10.