Wimbledon organisers report increase in net profit thanks to fans returning in 2021
Wimbledon organisers The All England Lawn Tennis Club (AELTC) have announced a net profit of £33.3 million, over $US40 million, for the year ending July 2021.
The return of restricted capacity crowds to last summer’s Wimbledon played a big part in bringing profits up after the 2020 event was cancelled due to the pandemic.
Over the course of the Wimbledon fortnight, partial capacity crowds were permitted for the first week while full stadium crowds coudl attend the quarter-finals, semi-finals and finals.
According to SportBusiness.com, AELTC turnover for the year of the cancelled event was slashed by almost £290 million, about $US360 million, to just £4.9 million.
However, a £174 million ($US217 million) insurance policy which covered Wimbledon in the event of a pandemic, among other happenings, meant the AELTC was still able to reach a net profit of £20.3 million, or $25 million.
That allowed the group to pay prize money for the 2021 event in addition to paying back broadcasters and sponsors.
Starting from 2022, Wimbledon is looking to build on their finances after announcing a new multi-year partnership with mobile provider Vodafone back in January.
The brand will be the Official Connectivity Partner for The Championships until at least 2027, as well as signing former world number four Tim Henman and former British world number 27 Laura Robson as brand ambassadors.
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