Wimbledon 2007: A Profitable Tennis Event

Wimbledon is a great tennis event and it is often called as the best grand slam tournament. It is famous for its rain and tradition. Strict dress code is something associated with Wimbledon only and not everyone likes it. It does not matter to Wimbledon organizers. They are happy with the way things have been going for many years. They are not interested to change. Why should they change since their old-fashioned style is bringing them good profit. Wimbledon organizers wont tell you the figure that they are earning by holding Wimbledon 2007 but the profit is healthy and it is increasing.

Sunday Herald reported:

So, how profitable was Wimbledon 2007? As a private organisation, it does not give precise details of earnings. But the event gives all its profit to the Lawn Tennis Association under a 73-year-old agreement and last year that amounted to £25.5 million.

As for this year, the event's marketing director Robert McCollem told the Sunday Herald he was "cautiously optimistic" of a very good year despite the inclement weather. A particularly valuable contributor this year has been corporate hospitality, fuelled by record City bonuses and buoyant company profits. For example, event and client management group IMG, which holds merchandising and licensing agreements with the event as well as brokering its broadcasting rights around the world, pulls out all the stops for Wimbledon, entertaining no less than 1300 guests during the fortnight.

For official suppliers, the event is such a magnet that the organisers are able to charge above the odds. Thus, income from the golden 14 is growing much faster than the rate of inflation, according to sources.

Wimbledon organizers need not to be worried. This is the age of Internet and they will be able to increase their income in the next few years through Internet. I would not get shocked if I can see Google Adsense ads in the official website of Wimbledon in next year. This is the age of globalization and commercialization. Heritage and tradition can be a good thing to sell.