Wimbledon pumps £ 50m into British tennis association LTA
The British Tennis Association (Lawn Tennis Association, LTA) has received a substantial financial injection from Wimbledon for the first time in history. The traditional Grand Slam tournament is said to have put more than £ 50m (56m euros) into the basics of British tennis in 2019.
by tennisnet.com
last edit:
May 23, 2020, 06:21 pm
As the Daily Mail reports, ten percent of the total went to the smaller lawn tournaments that LTA runs annually and, like Wimbledon, fell victim to in the non-play time due to the coronavirus crisis in 2020.
The British association accounted for £ 175 million in equity, remaining in a strong financial position despite the pandemic. With insurance, Wimbledon was able to partially offset the losses due to the event's cancellation this year, but still expects a loss in sales of 30 percent.
Nevertheless, around 50 percent of the total of 279 LTA employees were sent to government-sponsored short-time work. Due to the good finances, the association now has to put up with a lot of criticism not to have not waived the program. The CEO Scott Lloyd waives 20 percent of his salary.
"The current outlook for fiscal year 2020 is completely different. Our responsibility is to ensure the long-term growth and future of tennis in the UK. The short-time regime supports organizations like the LTA in their goals," said a spokesman. The goal remains an increase in the number of active tennis players in the Union.