9 July 1877: start of the first Wimbledon tennis championships
On 9 July, 1877 the first Championships began at the All England Croquet and Lawn Tennis Club in Wimbledon. It is the oldest tennis championship in the world.
On 9 July, 1877 the first Championships began at the All England Croquet and Lawn Tennis Club in Wimbledon.
It is the oldest tennis championship in the world, and is the only grand slam' event played on grass.
There was only one event in 1877 the gentlemen's singles (there wouldn't be a ladies' championships till 1884). A field of 22 took part, having paid the one guinea entry fee. It was won by 27-year-old Old Harrovian and ex-Surrey country cricketer, Spencer Gore, who defeated William Marshall 6-1, 6-2, 6-4 in front of a crowd of around 200 spectators.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Entrance fee for spectators was a shilling, and the prize for the winner was £12 roughly £1,300 in today's money.
Things have changed greatly since then, of course. It's much more lucrative, for one. This year's singles winners took home £1,760,000. First round losers were given £27,000.
The number of spectators has gone up somewhat, too. At any one time, there are around 38,500 of them in the grounds, who get through 200,000 glasses of Pimms, 28,000 kilos of strawberries and 7,000 litres of cream. They bought 28,600 official' towels, and 10,000 umbrellas.
There is no information about what sort of profit the first championships made. But in 1879, the first year for which figures are available, there was a surplus' of £116. In 2013, that figure was £35,107,812 90% of that is handed over to the Lawn Tennis Association to be used to develop British tennis.
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
Ben studied modern languages at London University's Queen Mary College. After dabbling unhappily in local government finance for a while, he went to work for The Scotsman newspaper in Edinburgh. The launch of the paper's website, scotsman.com, in the early years of the dotcom craze, saw Ben move online to manage the Business and Motors channels before becoming deputy editor with responsibility for all aspects of online production for The Scotsman, Scotland on Sunday and the Edinburgh Evening News websites, along with the papers' Edinburgh Festivals website.
Ben joined MoneyWeek as website editor in 2008, just as the Great Financial Crisis was brewing. He has written extensively for the website and magazine, with a particular emphasis on alternative finance and fintech, including blockchain and bitcoin.
As an early adopter of bitcoin, Ben bought when the price was under $200, but went on to spend it all on foolish fripperies.
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?
Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
By Kalpana Fitzpatrick Published
-
What does Rachel Reeves’s plan for growth mean for UK investors?
Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
By Katie Williams Published