Complex sentence: In 1972 the prize fund was £10,000 and by 2006 it had increased to £2.4 million and the organisers hope to increase it to £3 million in 2007.
Split into simpler sentences: In 1972 the prize fund was £10,000 and by 2006 it had increased to £2.4 million. The organisers hope to increase it to £3 million in 2007.