The Lawn Tennis Association (LTA) lost £ 30 million in income year-on-year, and as a result the board incurred an operating loss of £ 5.2 million in 2020. Although the total loss was £ 1.8 million it was still manageable Dollars After taking into account the gains in investment, the general finances of the British Tennis Board were in disarray.
According to reports, the current year could prove to be a tougher year for the Lebanese Association for the Promotion of Transparency (LTA). The epidemic wave itself has grabbed most of the momentum Tennis Leagues and their fans, who hardly make any returns.
Nearly 75 per cent of her total income of £47m in 2020 came from Wimbledon (£36m) as a savior for the LTA, demonstrating the importance of pandemic insurance at the All England Club. However, the down payment was nearly 10 million pounds less than it was in 2019.
On top of this, LTA just made £ 676,000 income during the major events of 2020 compared to £ 14.4 million from the same events in 2019. Besides empty stadiums and lost ticket sales, business income has also been hit hard. Meanwhile, losses have been mitigated somewhat as the organization saved £ 19.3m, of which around £ 5m was spent to support coaches, stadiums, officials and tennis charities through the pandemic.
from In the previous year, it arranged a £ 15m overdraft facility in order to stabilize volatile working capital, but according to what was said the following year, it could spark more economic concerns Wimbledon was also set to take a big hit as lower spectator capacity would lower Income, which also applies to LTA-managed events. The net cost of organizing these tournaments is expected to be approximately double what it was. LTA CEO, Scott Lloyd, emphasized that there may be challenges ahead for the organization.
“This year we have uncertainty due to reduced capacity in our tournaments and events, as well as the additional costs that Covid is imposing on our events.”
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