The Six Kings Slam has been a unique event in the world of tennis, bringing together six of the most prominent players in an exhibition tournament over three days in Riyadh, Saudi Arabia. But it has also been an extremely lucrative business for the six tennis players participating in the exhibition that has been hosted these days in the capital of Saudi Arabia, Riyadh. Both the two Spaniards enrolled, Rafa Nadal and Carlos Alcaraz, and the rest of the participants, Novak Djokovic, Daniil Medvedev, Jannik Sinner and Holger Rune, get a succulent check for their participation. Sinner, in addition, as champion, pocketed the highest prize in the history of tennis: 6 million dollars.
All participating tennis players He has received a fixed amount of 1.5 million dollars for his appearance (1.3 euros), the same for everyone. Nadal, Djokovic, Alcaraz and Sinner, the first two in the match for third place and the second two in the final, have played three matches each, which makes them half a million per match. But this prize is not free and they must pay taxes for it.
But How much does the Treasury take from this succulent bag?
As tax residents in Spain, Alcaraz and Nadal’s income is taxed in their income tax return according to the general rates. The personal income tax is divided into a state part and a regional part that depends on each region. So both are taxed at the state level and also for the sections that are taxed in Murcia and the Balearic Islands.
Alcaraz already had to pay a significant sum for winning at Wimbledon. The Murcian pocketed 3.2 million euros of which the Treasury kept 1.504 million euros of Alcaraz’s prize, that is, 47% of the total. Now they will have to pay a similar percentage.
The National Personal Income Tax brackets are:
From 0 to 12,450 euros: 9.5%
From 12,450 to 20,200 euros: 12%
From 20,200 to 35,200 euros: 15%
From 35,200 to 60,000 euros: 18.5%
From 60,000 to 300,000 euros: 22.5%
More than 300,000 euros: 24.5%
The sections that apply in Murcia are:
From 0 to 12,450 euros: 9.5%
From 12,450 to 20,200 euros: 11.2%
From 20,200 to 34,000 euros: 13.3%
From 34,000 to 60,000 euros: 17.9%
More than 60,000 euros: 22.5%
The sections that apply in the Balearic Islands are:
From €0 to €10,000: 9%
From €10,000 to €18,000: 11.25%
From 18,000 to 30,000: 14.25%
From €30,000 to €48,000: 17.50%
From €48,000 to €70,000: 19%
From €70,000 to €90,000: 21.75%
From €90,000 to €120,000: 22.75%
From €120,000 to €175,000: 23.75%
From €175,000 onwards: 24.75%
Therefore. Of the 1.3 million euros, Alcaraz must pay the Treasury 611,000 euros, 47% of the amount paid, while Rafa Nadal must pay more as the autonomous section of the Balearic Islands is higher. The Manacorí will pay the not inconsiderable amount of 640,250 euros, that is, 49.25 of the income received.
Sinner, winner of the tournament, has pocketed the largest prize in the history of tennis: 6 million dollars, 5.5 euros, which represents about a third of the Murcian’s earnings this entire season. If Alcaraz had won, the Treasury would have taken 2,585,000 euros.
This not only happens in tennis but also in other sports. For example, the players of the Spanish team They pocketed a bonus of 434,615 euros after becoming champions of the Euro Cup, of which 204,269.05 euros went directly to the Treasury.