New Center Court of Wimbledon

The All England Lawn Tennis Ground plc,owner of the grounds at which the Wimbledon Lawn Tennis Championships are staged, has announced that it is issuing up to 2,500 Center Court debentures at a price of £27,750 each for the five years 2011-2015 inclusive. The issue is expected to raise net proceeds of approximately £59.5 million.

The 2009 Championships will be the first with a retractable roof over Centre Court. When in use, the roof is designed to ensure that tennis can be played and viewed in adverse weather during the summer. The AELTG has invested significantly in the restaurant and bar areas exclusively for the use of Centre Court debenture holders. The redevelopment of Centre Court has enabled the AELTG to improve the quality of the seating with the installation of wider, upholstered seats and, since 2006, the seating capacity has increased to approximately 15,000.

Debentures were first introduced in 1920 to finance the purchase of part of the company’s present grounds and buildings and the construction of Centre Court. Since then, proceeds from subsequent debenture issues have provided funding for many significant improvements to the facilities at the grounds.

A Centre Court debenture confers the right to on Centre Court for every day of The Championships for the five-year period covered. The price of £27,750 each, including VAT at the rate expected to be prevailing at the time the instalment payments are made, is made up of a nominal value of £2,000 (repayable in August 2015), a premium of £22,000 and VAT of £3,750.