Wimbledon Park - tennis v golf

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Post by raycastleunited on Mon 15 Oct 2018, 4:59 pm

I saw in the news last week that Wimbledon is planning to buy the adjacent Wimbledon Park GC in order to expand its facilities. The golf club closes during Wimbledon fortnight - whenever I've been to the tennis I've always enjoyed the corporate hospitality tents which sprawl across the fairways.

The members have voted to accept the latest £65m offer... and stand to gain £85k each. Easy decision, there are plenty of better courses in the area.

https://www.theguardian.com/sport/2018/oct/10/wimbledon-tennis-73-acres-wimbledon-park-golf-club

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Post by McLaren on Mon 15 Oct 2018, 6:29 pm

I'd take £85k to swap clubs. Although you say there are plenty of clubs near by it can't set a great precedent for other central london clubs to start cashing in on the land they own. I don't suppose it is that easy to find a club in london and losing even one would surely worsen the problem?
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Post by super_realist on Mon 15 Oct 2018, 7:05 pm

McLaren wrote:I'd take £85k to swap clubs. Although you say there are plenty of clubs near by it can't set a great precedent for other central london clubs to start cashing in on the land they own. I don't suppose it is that easy to find a club in london and losing even one would surely worsen the problem?

Absolutely, looks a rubbish course anyway.

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Post by super_realist on Mon 15 Oct 2018, 7:05 pm

McLaren wrote:I'd take £85k to swap clubs. Although you say there are plenty of clubs near by it can't set a great precedent for other central london clubs to start cashing in on the land they own. I don't suppose it is that easy to find a club in london and losing even one would surely worsen the problem?

Absolutely, looks a rubbish course anyway.

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Post by pedro on Mon 15 Oct 2018, 7:10 pm

A no brainer.
Though, is it capital gains tax?

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Post by raycastleunited on Tue 16 Oct 2018, 1:02 pm

I would assume the members would all get taxed on the £85k. Even if you only see £50k cash that's a pretty good bonus when all you've done is pay your annual subs to play golf.

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Post by Roller_Coaster on Tue 16 Oct 2018, 2:28 pm

With a one time £3k joining fee and £1,425 p/a subs I wish I'd joined last year to get an £85k bonanza!

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Post by super_realist on Wed 17 Oct 2018, 7:48 am

Roller_Coaster wrote:With a one time £3k joining fee and £1,425 p/a subs I wish I'd joined last year to get an £85k bonanza!

I bet there would have been some legal loophole where you had to be a member for 5 years or something similar.

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Post by Roller_Coaster on Wed 17 Oct 2018, 9:06 am

Undoubtedly, but my flippant comment aside, it gives a smidge of context for what £85k represents. Including the joining fee (£3k) the £85k gives you a lump sum the equivalent of 57 and a half years membership fees at current full member price.

Even limiting it to full fee paying members of 10 years or more, it would still represent a windfall and more than enough compensation for 1 to 2 month's disruption (which you'll have known about before signing up) each year while the tennis is on.




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Post by raycastleunited on Wed 17 Oct 2018, 11:23 am

According to the articles in the press, the club's constitution set out that only members with 10+ years standing would benefit, but the members voted to change this to all members. I'm sure it's more complicated than this and there is/was a cut off date otherwise they would be flooded by membership applications.

I know someone who was a member of the RAC (the club not the motoring organisation). He'd only been a member for a year when the club decided to sell off the roadside rescue business and he and all the members got about £40k each.

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Post by dynamark on Thu 18 Oct 2018, 5:48 pm

Hi folks .Different slant but friends of mine( I have some) recently joined Hinckley golf club which have picked up a fine and legal costs of approaching £200 k under H and S .Head greenkeeper died whilst working alone cutting up a tree .So several meetings about how to pay the bill.
However this is technically a limited company with several large shareholders and a number of individual shareholders and they appear to be trying to spread the responsibility to all and sundry.
Golf in general still appears to be limping a bit for numbers and no obvious answer.

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Post by beninho on Thu 18 Oct 2018, 5:55 pm

Just googled it Dyna, thats a mental chain of events. He had no training with how to use a chainsaw, yet did it as it was getting dark,below a blown over tree with no safety hat while on his own. Its a bit mad.

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Post by dynamark on Thu 18 Oct 2018, 8:24 pm

Hi Ben .He had said at interview that he was qualified and told the lad who was with him to knock of work.But lived on his own in a bungalow on the course and wasn't missed until next day.
Sadly they had another greenkeeper who hung himself from a tree a few years back.!
Played there two weeks back good course but slightly troubled at present.


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Post by George1507 on Fri 19 Oct 2018, 9:56 am

I haven't played Wimbledon Park for a few years, but I remember it being a nice course. Tree lined fairways and tight greens. A few good par 4s.

It was all packed in a bit though. In the immediate area there is golf on Wimbledon Common (course shared with London Scottish) but you have to wear a red sweater. Play has to stop at precisely 1.00pm on Sundays too. Also Royal Wimbledon which is a real classic. Lovely course to play. A few other courses too in the not so immediate area, but I guess keeping 9 holes at Wimbledon Park will be good enough for most, with that £85k in their back pockets.

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