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Record Financial Gains from 2024 Wimbledon Championships Benefit British Tennis
The Wimbledon Championships of the previous year have yielded an impressive financial result, providing a remarkable surplus of nearly £50 million for British tennis.
Under a formal agreement, The All England Club (AELTC) has allocated £49.853 million to the Lawn Tennis Association (LTA) for the year, redistributing 90% of its profits to the governing body of the sport each year.
The annual report highlights, “Despite facing challenging weather conditions during the championships, the organization still managed to achieve a record surplus for the LTA.” This underscores the resilience and popularity of the event, which continues to attract immense crowds and generate significant revenue.
In addition to these allocations, the AELTC’s financial report for the year ending in July 2024 shows a modest increase in profits, amounting to £54.332 million, alongside a rise in total turnover to £406.507 million.
Over the past decade, prize money associated with the tournament has seen a twofold increase. However, players at the top levels of the sport have been vocal regarding their desire for an even larger portion of the income generated from the four Grand Slam tournaments.
Recently, the top 20 male and female players collectively addressed the issue by sending a letter advocating for increased prize money to the organizers of the Australian Open, French Open, Wimbledon, and US Open. This move highlights ongoing discussions within the sport about fair compensation relative to the significant revenues that these prestigious events produce.
Source
www.bbc.com