19 November 2008

Wimbledon Surplus Secured for Benefit of British Tennis


The All England Lawn Tennis and Croquet Club (AELTC) and the Lawn Tennis Association (LTA) propose to renew and extend their existing agreement relating to The Championships, Wimbledon, an agreement that otherwise lapses in 2013. The two bodies have worked closely together for the good of British Tennis since 1922 with the All England Club focusing on running The Championships and the LTA, as the national governing body, on developing the sport at all levels nationwide.

The parties have agreed that the LTA and British Tennis will benefit from the certainty of receiving 90% of any distributable financial surplus resulting from the annual staging of The Championships until at least 2053.     The balance received by the Club will help to enhance The Championships’ site.

The AELTC will acquire from the LTA their 50% share of ownership in The All England Lawn Tennis Ground PLC (the company which owns the Wimbledon tennis site and facilities). Capital will therefore become freed up in 2013 for the LTA to invest in British Tennis and its plans to grow the game and its facilities at all levels in Great Britain. From the perspective of the AELTC, who originally gave this 50% shareholding to the LTA in very different times (1934), the transaction will return to the AELTC full ownership and control of the site.  This will strengthen the AELTC in its continuing drive and central objective to maintain The Championships as the premier tennis event in the world, with facilities to match.

Tim Phillips, Chairman of the All England Club, said: “This proposed new agreement benefits both The Championships and the development of tennis in Britain for the next 40 years.  We want the sport to flourish here and the LTA have exciting plans to widen the appeal of this most healthy of sports in this country.”

LTA President, Stuart Smith said: “This agreement is very good news for British Tennis, the All England Club and the world’s premier tennis event.  If accepted by our two organisations, it will ensure that The Championships will continue to make a significant contribution to the development of tennis for many years to come – from the grassroots to elite.  The long term stability of this agreement provides a foundation for us to continue in our efforts to boost income from other sources, necessary to grow the sport, increase success and build facilities across the country.”

The proposal for the new agreement  is subject to approvals at a Special General Meeting of the AELTC and a Council Meeting of the LTA, both due to be held on 10th December 2008.  The new agreement will, if approved, benefit both parties. It will come into effect on 1st August 2013.

The Lawn Tennis Association - www.lta.org.uk