My OrangeCoach
News
November 20, 2008Wimbledon secures British tennis
British tennis's future will be secured by a 40-year deal between Wimbledon organisers and the LTA. Wimbledon organizers will pay $83 million to regain total control of the All England Club, buying back the 50 percent it gave away in 1934.
The 2008 tournament generated a profit of $39 million and under the 40-year deal, which will go to a vote in December, the LTA will receive 90 per cent of available profit from the Wimbledon tournament until 2053.
"The new arrangement would certainly be mutually beneficial for British tennis and for Wimbledon." Tim Phillips, Chairman of the All England Club, said. "We get our grounds back and then we can decide what we do with it and be in charge of our own destiny."
Other news
Newer