SM
Greece vs. England: 14 hrs 40 mins
Upcoming predictions and previews
Collect News Data

LTA reveals £5.2m operating loss in 2020

:Headline: LTA reveals £5.2m operating loss in 2020:
An annual payment of £36million from Wimbledon and savings of nearly £20million helped to limit the damage during the pandemic.
Sports Mole

The Lawn Tennis Association saw its income take a major hit in 2020 and admitted this year could turn out to be even more challenging.

The governing body's income was reduced by £30million year on year, resulting in an an operating loss of £5.2million – reduced to an overall loss of £1.8million once gains in investments were taken into account.

The LTA saw all its major grass-court events wiped out because of coronavirus while it invested in measures to mitigate the effects of the pandemic on the domestic game.

Of its income for 2020 of £47million, more than 75 per cent came from the £36million it received as its annual payment from Wimbledon – a demonstration of just how vital the All England Club's pandemic insurance turned out to be.

The payment was, though, nearly £10million lower than in 2019 while the LTA made just £676,000 from major events in 2020 compared to £14.4million the previous year, and commercial income was also severely reduced.

Losses were mitigated by the organisation saving £19.3million – it claimed £1.2million through the Government's furlough scheme – but it invested nearly £5million to support coaches, venues, officials and tennis charities through the pandemic.

The LTA retains total equity of £174million, while it arranged an overdraft facility of £15million during 2020 to mitigate against fluctuations to its working capital, but there are concerns over the financial outlook for 2021.

Tennis courts were locked for several months in 2020 because of the coronavirus pandemic (Yui Mok/PA)

Wimbledon is set to take a major hit in income because of reduced spectator capacity and the same applies to the events run by the LTA at Queen's Club, Nottingham, Birmingham and Eastbourne.

The net costs of staging those tournaments, meanwhile, are expected to be approximately double what they would normally be.

LTA chief executive Scott Lloyd, who took a pay cut from £429,000 to £356,000, said: "Last year was a challenging one for everyone but throughout the year we remained focused on reducing costs while continuing to support the tennis community. We made progress against our strategy of opening up tennis.

"This year we have the uncertainty created by a reduced capacity at the Championships and our own events, as well as the extra costs that Covid is imposing on our events.

"However, we will be continuing our efforts to make tennis a sport for everyone and transform the image of the sport in this country."

Tennis participation increased eight per cent from 2019 while, for performance players, the LTA hosted more than 1,000 behind-closed-doors matches at the National Tennis Centre.

body check tags ::

amp_article__449234 : Collect and Make Data not in DataBase  : 
last updated article - 2021-05-27 12:58:17:
html db last update - 2021-05-27 12:58:17 :

ex - 7200 : read : write cache and make html

Coronavirus outbreak - Click here for more stories

Click here for more stories about Scott Lloyd

Share this article now:
AM
Read Next:
Andy Murray desperate to consign injury problems to history
>


Sports Mole provides in-depth previews and predictions for every match from the biggest leagues and competitions in world football.
AL
Sign up for our FREE daily preview newsletter direct to your inbox!
Read more about Scott Lloyd Tennis
Follow @SportsMole for the latest breaking news stories, and follow @sm_headlines to get every headline from Sports Mole
Recommended Next on SM
Andy Murray desperate to consign injury problems to history
"I don't really like it" - Kane hits out at England withdrawals
"There's always that link": Welbeck comments on Man United return speculation

Page options

Premier League Table
TeamPWDLFAGDPTS
1Liverpool119112161528
2Manchester CityMan City117222213923
3Chelsea115422113819
4Arsenal115421812619
5Nottingham ForestNott'm Forest115421510519
6Brighton & Hove AlbionBrighton115421915419
7Fulham115331613318
8Newcastle UnitedNewcastle115331311218
9Aston Villa115331717018
10Tottenham HotspurSpurs1151523131016
11Brentford115152222016
12Bournemouth114341515015
13Manchester UnitedMan Utd114341212015
14West Ham UnitedWest Ham113351319-612
15Leicester CityLeicester112451421-710
16Everton112451017-710
17Ipswich TownIpswich111551222-108
18Crystal Palace11146815-77
19Wolverhampton WanderersWolves111371627-116
20Southampton11119721-144
Scroll for more - Tap for full version


Sports Mole provides in-depth previews and predictions for every match from the biggest leagues and competitions in world football.
AL
Sign up for our FREE daily preview newsletter direct to your inbox!

Loading ...

Failed to load data.

history www

Lisandro Martinez facing extended spell on the sidelines?

1

LM

Cristiano Ronaldo's record vs. Poland

2

CR

Preview: Mozambique vs. Mali - prediction, team news, lineups

3

PM

Lee Carsley responds to mass injury withdrawals amid Harry Kane's criticisms

4

LC

Preview: Zimbabwe vs. Kenya - prediction, team news, lineups

5

PZ

Preview: Portugal vs. Poland - prediction, team news, lineups

6

PP

Preview: Uganda vs. South Africa - prediction, team news, lineups

7

PU

Preview: Uruguay vs. Colombia - prediction, team news, lineups

8

PU

Preview: Taylor Fritz vs. Alex de Minaur - prediction, head-to-head, tournament so far

9

PT

What all-time winning record could England equal against Greece?

10

WA


. . . . . . . . . . . . . . .