EXPLORING THE IMPACT OF WIMBLEDON PRIZE MONEY ON PLAYERS AND THE TOURNAMENT
- The First Serve
- 2 hours ago
- 2 min read
With Wimbledon almost coming to a close and millions in prize money up for grabs, it's not just about winning on the court. For those earning in British pounds, the current exchange rates present a rare financial opportunity.
Whether you're an Aussie player, a US-based athlete, or someone with plans to invest in property or transfer inheritance overseas, the strength of the pound right now could make a big difference.
Chris Broadfoot, founder of Sports FX, who specialises in professional foreign exchange management, explains in more detail.
GBP is Sitting at Multi-Year Highs
The British pound has been on a strong run in 2024.
GBP to AUD has stayed above 2.10 for the past couple of months. These are the best levels we’ve seen since the Brexit period, approaching 10-year highs.
GBP to NZD is even higher, trading around 2.25. That’s the strongest it’s been since 2015.
GBP to USD has climbed to 1.37 recently. This level hasn’t been seen in over four years and reflects the pound’s strong uptrend so far in 2024.
GBP to AED (UAE dirham) has broken back above 5.00. That opens the door for anyone planning a move to Dubai or needing to transfer funds there for lifestyle or investment reasons.
The only notable exception is GBP to EUR, which is currently around 1.17. That’s the lowest level in about a year and suggests the euro is holding firm for now.
What This Means for Athletes and Their Money
If you're earning prize money in pounds, converting now into your home currency could stretch your earnings significantly.
Take an Australian player, for example. Bringing home £200,000 could now convert into over $420,000 AUD. That’s a huge improvement from previous years, when rates were closer to 1.80 or 1.90.
The same applies to players from the US or New Zealand. Your pounds are buying more, which can help with everything from tax planning to paying off a mortgage.
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Sports FX empowers professional athletes with tailored currency management solutions that help you maximise your earnings while competing globally. To see how it works, head to www.sportsfx.com.au
