Wimbledon Park - tennis v golf

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

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?

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.

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.

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

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.

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!

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.

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.

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.

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.

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.

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.

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.