(Corrects dollar amount in headline, second paragraph.)
The All England Lawn Tennis Club is issuing five-year debentures, or bonds, that entitle holders to a Centre Court ticket for the current Wimbledon tennis championships, according to SmartMoney.
The club’s debentures are trading in London for 66,000 pounds ($103,000) each, according to Michael Dyson of Investec Plc (INVP), who handles debenture transactions. The debentures originally cost $43,000 when first issued two years ago, SmartMoney said.
There are 2,500 Centre Court debentures and 1,000 Number One Court coupons on the market, with four years of life left in them, according to SmartMoney.
The tennis club has partially funded itself since 1920 by issuing debentures, allowing it to refurbish courts and improve the club’s facilities. Wimbledon tickets acquired at the box office or through agencies are highly oversubscribed and cannot be sold or transferred to another person, so buying debentures is the only way for outsiders to gain access to the courts, SmartMoney reported.
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