LTA sees funding for British tennis dip by over £4m as resources stretch to pay for roof on Wimbledon Court No 1
- LTA sees money from Wimbledon profits fall from £37.7m to £33.6m year on year
- The All England Club has invested millions to revamp No 1 Court at Wimbledon
- A new roofed Court No 1 will come into full function for the 2019 tournament
The profits from last year’s Wimbledon that go towards funding British tennis dipped by more than £4million, largely due to the expense of the redevelopment of Court No 1.
The figure emerged as the Lawn Tennis Association held its Annual General Meeting on Thursday, where Lord Mervyn Davies, a former Labour cabinet minister, was unveiled as the new Chair of the national governing body.
The LTA, which receives 90 per cent of Wimbledon’s annual profits for the betterment of the sport in the UK, was handed £33.6m according to the latest accounts, down from £37.7m the previous year. While not especially dramatic in average terms, it will focus minds on costs.
The new roof being built over No 1 court at the All England Club will be completed by 2019
The reduction was mainly due to extra money being spent on the project to build a second roofed court at the All England Club, which will be brought into action at the 2019 Championships.
Lord Davies of Abersoch, a senior figure in the city who works in private equity, will take over as Chair when the incumbent David Gregson steps down later this year.
Claiming to be a tennis enthusiast, he will work with new chief executive Scott Lloyd, who took over in January.
They will try and bring much-needed stability to the organisation after the long-term flux caused by the departure of the Gregson-appointed Michael Downey, who left after last year’s Wimbledon to go back to his old job in Canada after a relatively short but lucrative stay.
Wimbledon invested in getting a second enclosed arena after the success of Centre Court