Wimbledon has secured a £175million loan to finance the construction of the retractable roof on Court No.1. Set to be completed by 2019, the entire roof project will cost almost £71million. The extra spending is revealed in the All England Club's accounts at Companies House and also sketches other improvements planned on the site which include making of new clay and hard courts.
The All England Club made a £33.2million profit last season, paid off a £75million loan in 2015 that played a major role in the first part of Wimbledon's 'Master Plan', including the Centre Court roof.
“In September 2016, the company extended the £175million loan with HSBC to July 31, 2023 to finance the Number One Court project and aspect of the Master Plan,” the annual report says.
“The loan is secured on the grounds at Church Road.” The stadium size is set to increase as well with the almost 1000 more seats at grasp in times to come. The new roof will see Wimbledon become the second grand slam to have the roof availability for indoor tennis on two courts, guaranteeing play in bad weather.