The Lawn Tennis Association has committed to paying equal prize money to female players at Queen’s and Eastbourne by 2029.

Women will play at Queen’s Club next week for the first time in more than 50 years at the inaugural HSBC Championships, featuring the likes of Emma Raducanu, Katie Boulter and top-10 stars Madison Keys and Zheng Qinwen.

The LTA announced on Thursday it would pay total prize money of 1.415million US dollars (approximately £1m), the highest for a WTA 500 event of its draw size this year.

But that is still less than half of the prize pot that will be paid out to the male players the following week for the equivalent tournament on the ATP Tour.

At the Lexus Eastbourne Open, a joint WTA and ATP event staged the week before Wimbledon beginning on June 23, the difference is even starker, with the women’s prize fund of 389,000 US dollars (approximately £287,000) significantly inferior to the more than £630,000 that will be paid to the men.

While prize money is equal at the grand slams and some joint tour events, generally remuneration on the WTA Tour is substantially lower than the ATP.

The LTA stated an aim to achieve parity before 2029 but its rationale comes against a £4million loss made across the grass-court events it staged last year – Wimbledon is run by the All England Club – with the men’s event at Queen’s the only profitable tournament.

Scott Lloyd, the governing body’s chief executive, said: “We are making significant increases this year to the women’s prize money at Queen’s and Eastbourne and want to achieve equal prize money as soon as possible.

“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.”

Ticket sales for the women’s event at Queen’s are currently around 80 per cent, with the men’s tournament sold out, while 55 per cent of those purchasing WTA tickets have been female.