Players at the brand new WTA 500 event at London’s Queen’s Club will be battling it out for a record prize purse of £1m ($1.415m) next week. The women’s tennis tour is returning to the capital for the first time in more than 50 years, with Emma Raducanu, Madison Keys and Katie Boulter set to compete.

Ahead of the tournament, the LTA has confirmed an uplift in women’s prize money at Queen’s, which also hosts an ATP 500 event in the following week, and at the joint 250-point event in Eastbourne. The goal is to reach equal prize pay as soon as possible, and no later than 2029.

The women’s edition of the HSBC Championships at Queen’s will become the highest-paying WTA 500 tournament of its draw size this year.

With a total of £287k ($389k) also up for grabs in Eastbourne, it will be the highest-paying WTA 250 of the season.

There is still a way to go before both events can match the cash on offer at the equivalent ATP Tour events, which use the same venues and are the same tier of tournament.

According to the ATP website, those competing at Queen’s will share a total prize purse of £2.12m (€2.52m). Meanwhile, those at the ATP 250 on the South Coast are playing for a total of £637k (€757k).

But the LTA, the governing body for tennis in Britain, is committed to achieving its goal of prize money parity. While the tours set their own minimum figures, the LTA has chosen to invest in uplifting the funds on offer at their joint ATP-WTA events.

It’s an attractive offer for the WTA stars playing at Queen’s for the first time in decades and, with less than a week to go, there are positive signs of interest in the new event with 55 per cent of ticket buyers being female and plenty of top players signed up.

British stars Raducanu and Katie Boulter will enjoy a homecoming in front of the London fans, while top-10 stars Keys, Qinwen Zheng and Emma Navarro will also grace the courts of the Queen’s Club.

The ATP 500 event, staged a week later than the new women’s offering, has been a long-standing favourite on the men’s tennis tour and consistently wins the prize for best ATP 500 event. Former champion Carlos Alcaraz is set to return this year, with Jack Draper also in action.

The news of the LTA’s investment in women’s prize money comes despite losses of £4m in staging all grass court tournaments in 2024. But the body is keen to grow the events and their profitability to provide playing opportunities, promote the sport, and give British fans the chance to watch top players.

Following the announcement, WTA CEO Portia Archer said: “We fully support the LTA’s initiatives to increase the women’s prize pot at its events, with a goal of achieving parity in the longer term.

“WTA athletes deliver consistently engaging and powerful games on court to entertain courtside fans and worldwide audiences.

“This move sends a powerful message that the women’s game is valued and will inspire new generations of girls picking up racquets to know their endeavours will be recognised.”

LTA Chief Executive Scott Lloyd added: “The LTA is committed to growing women’s tennis, both at professional and grass-roots level and this move is an important part of that commitment.

“This year fans will be able to enjoy both men’s and women’s tennis on the biggest stages that we can offer and we want to develop the tournaments so that the women’s events deliver a path to profitability and greater visibility for the sport.”