British tennis records massive profit | Sunday Observer

British tennis records massive profit

The LTA has returned a profit for the first time in four years - partly due to the financial success of last year’s Wimbledon.

British tennis’ governing body recorded an operating profit of £8.7m in 2019, having lost £6.3m the previous year.

The LTA has increased its reserves to more than £75m.

But the cancellation of this year’s Wimbledon, and all of the summer grass court events, means that money is very likely to be drawn upon in future.

“Whilst the LTA delivered a profit for 2019, the current outlook for 2020 and beyond will be very different due to the financial impact of the current pandemic,” the LTA said in a statement.

Around 50% of its staff are currently furloughed, and the organisation does not think its reserves should disqualify it from receiving government support.

“Our responsibility is to protect the long term growth and future of the sport in Britain,” the statement continued.