Shaun Murphy narrowly missed out on a second World Snooker Championship title on Monday, losing 18-17 to Wu Yize at The Crucible. The defeat delivered a double blow, as the 2005 champion also faces a significant financial hit from UK tax laws.
Tax Implications for Murphy and Wu
Murphy will lose a large portion of his £200,000 runner-up prize to the taxman, leaving him with just £106,000 after National Insurance contributions. Similarly, Wu Yize, who became world champion at age 22, will retain only 53 per cent of his £500,000 winner's prize, amounting to £275,000.
The total prize fund for the 2026 championship stood at nearly £2.4 million, more than double the amount from 2005 when Murphy first won the title. Wu, who relocated to Sheffield as a teenager, saw his career-high ranking rise to fourth in the world following the victory.
Murphy's Gracious Defeat
Murphy, who defeated two former world champions—2025 winner Zhao Xintong and four-time champion John Higgins—en route to the final, praised Wu's performance. "I'd like to be the first to congratulate Wu Yize and his family," Murphy said. "I hate being right—I said earlier in the season he would be world champion one day. It's just a real shame that it was today, but I couldn't have given it any more."
Murphy added: "I played the best shots I could have played and I didn't get my chance. I couldn't do any more than that."
Wu's Emotional Victory
Wu, from Lanzhou, dedicated his win to his parents. "My parents are the true champions," he said. "Since I made the decision to drop out of school, my dad has been by my side. My mum has also been going through a lot over the years. They are the source of my strength, I love them so much."
When asked about his celebration plans, Wu replied: "I just want to have a good sleep. I have been feeling nerves all the time since before the match, so now I just want to go to bed."
This victory marked Wu's second ranking final win, following his triumph at the International Championship earlier in the season.
