The All England Lawn Tennis Club (AELTC) issues Wimbledon Debentures in respect of its two Show Courts; Centre Court and No. 1 Court. The Debentures are structured as a series of 5-year debentures.
A Wimbledon Debenture provides the holder with a premium seat on either Centre Court or No. 1 Court for the length of the issue as well as access to exclusive restaurants and bars during The Championships.
Wimbledon Debenture tickets do not have the holder’s name or a face value printed on them. Debenture tickets are the only tickets for the Championship that are freely transferable, so the holder can give their tickets away or sell them if they choose.
Wimbledon Debentures can either be acquired in the primary market on issue directly from the AELTC, or once issued in the secondary market from Dowgate Capital, the official broker for the AELTC and Wimbledon Debentures.
The primary market for Wimbledon Debentures
A new series of Wimbledon Debentures is issued every 5 years, but the new issues for Centre Court and No. 1 Court take place in different years. The first Debenture issue for No. 1 Court was issued in 1997 when there was already a Centre Court Debenture in issue.
The current Centre Court Debenture series covers the 2021-2025 Championships. This issue was announced in March 2019 and the Debentures allocated in June 2019. The price was set at £80,000 per Debenture and was payable in three installments. The previous Centre Court Debenture had been issued at £50,000.
Existing owners have priority whenever new debentures are offered. As Debenture issues are usually oversubscribed, it has been hard for non-debenture holders to obtain Debentures in the primary market from the AELTC directly.
The next Debenture series for No. 1 Court will cover the 2022-2026 Championships. Details of the issue, including the prospectus for the offer, should be made available in the Spring of 2021. Interest for this issue should be registered on the official Wimbledon website. It is possible that this issue is delayed as the result of disruption and uncertainty caused by the coronavirus pandemic.
The No. 1 Court debentures for 2017-2021 were priced at £31,000 at issue in 2016.
Buying Debentures on the secondary market
Wimbledon Debentures are not admitted to trading on any regulated market and are illiquid.
However, Dowgate Capital, the official broker of the AELTC runs a fully tradable weekly secondary market in Wimbledon Debentures.
The most recent traded prices for Wimbledon Debentures can be found on the official Wimbledon website. Wimbledon Debentures are wasting assets and trading prices will reflect how many Championships year are left in the series, the number of installments that remain outstanding as well as normal economic and market conditions.