Wimbledon Park Golf Club members have agreed to share the sum equally, meaning they'll each pocket £85,000
All England Lawn Tennis Club On Brink Of £63.75m Buyout Of Wimbledon Park GC
The All England Lawn Tennis Club has taken a step closer to purchasing neighbouring Wimbledon Park Golf Club for a staggering £63.75m.
The Wimbledon Park Golf Club members agreed to split the fee equally between its 750 members, meaning they each take home £85,000.
The AELTC has been looking to purchase the land for some time, and even bid £25m for it three years ago, almost £40m less than what they look to be paying now.
Interestingly, the AELTC owns the land but the Wimbledon Park Golf Club has a lease which runs out in 2041.
The AELTC are paying almost £65m for land they can have for free in 20 years, and will use it to build infrastructure to bring the Wimbledon qualifying tournament on-site.
Wimbledon Park’s members will vote in December on whether to go ahead with the plans, which will see them vacate the site in 2021.
The golf club changed the current plans which said that only members who had been there for 10 years would receive any financial windfall, now, however, it is going to be shared equally after the 75% majority was reached.
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The course is literally next door to the tennis club and is home to high profile members like Piers Morgan and Ant and Dec.
The club’s joining fee is £3000 and annual subs are just £1,450 according to the Guardian.
An insider told the Guardian, “There are plenty of alternatives in the area if they [members] wanted to join another club.”
The AELTC currently sits on 42 acres of land and is acquiring 72 acres more from the golf club.
Wimbledon is, of course, one of four tennis grand slams and all three of the other venues in Paris, Melbourne and New York have made infrastructure improvements over recent years.
They all host their qualifying tournaments on site and Wimbledon will soon be joining them in doing so.