Wimbledon tennis men and women singles champions will each receive a record-breaking £1.88m in prize money this year.

With a whopping total of £26.75m in total for this year's competitors to play for, the championships will give away "the highest prize money ever in professional tennis".

The awards were announced by All England Lawn Tennis Club (AELTC) chairman Philip Brook and chief executive Richard Lewis at a press conference this morning.

Asked whether the AELTC was "comfortable" paying sportsmen such high rewards, Mr Brook said: "I think without the world's best tennis players we couldn't have the world's best tennis tournament."

He added: "This level is affordable and I think we should reflect that in what we pay our players so I think yes, we are comfortable."

The total prize money has increased from £14.6m in 2011 to £26.75m in 2015.

The huge increase in the prize pot reflects an upward trend across the Slam championships since 2013.

Gentlemen's and Ladies' Doubles champions will see a five per cent increase in prize money - up to £340,000 per pair this year.

First prize winners of the mixed doubles tournament will receive £100,000 per pair - up four per cent from last year.

The biggest increase in prize money will go to the wheelchair doubles champions, with the winning pair receiving £15,000 - a 25 per cent increase from last year.