Wet Wimbledon fails to dampen profits at All England Club as sales hit new record

A rain-affected Wimbledon and continued cost-of-living concerns failed to impact profits at The All England Lawn Tennis and Croquet Club.

According to newly-filed accounts with Companies House, the club, which is behind the Wimbledon Championships, posted pre-tax profits of £36.6m for the year to July 31, 2023, up from £25.7m.

Its turnover also increased from £350.1m to £383.5m over the same period, a new record.

In terms of Wimbledon, the club generated a turnover of £383.7m, up from £349.1m, while its pre-tax profits totalled £37.3m, down slightly from £39.7m.

During the year, the average number of people employed by the club rose from 43 to 497.

The 136th Wimbledon Championships was staged between Monday, July 3, and Sunday, July 16, 2023.

The gentlemen’s singles was won by Carlos Alcaraz who defeated Novak Djokovic in the final, and the ladies’ singles was won by Marketa Vondrousova, who beat Ons Jabeur.

In the UK, the television audience for the gentlemen’s singles final peaked at 11.3m and a 4.5m for the ladies singles. A total of 275m hours were watched on BBC TV across the 14 days.

A statement signed off by the board said: “A full year of events and matches took place during the year including an overseas tour to the US.

“Members enjoyed an investment portfolio comprising a mixture of listed UK and international equities, collective investment funds and fixed interest investments.

“The company invests relatively prudently as it seeks to balance capital preservation with income generation and capital growth. During the year, the portfolio saw increases in market value.”

The results come after Wimbledon chiefs said in November 2023 that they were surprised after Wandsworth Council delivered a major setback to their plans to expand the All England Club.

Councillors rejected a planning permission for the building of a new 8,000-seater show court and 38 other courts on Wimbledon Park.

Merton Council, which is responsible for most of the land in question, had already backed the proposals.

Mayor of London Sadiq Khan is to the final say and was expected to make a decision in December 2023 but one has not yet been announced.

Referencing the plans in its accounts, The All England Club said: “The development will allow the qualifying event for The Championships to be held on this site as well as deliver a positive impact for local communities and provide access to some areas of the park year round.”