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{{short description|Certificate of agreement of loans in sport}}
{{Other uses|Debenture}}
{{EngvarB|date=July 2016}}
{{Use dmy dates|date=July 2016}}
{{more citations needed|date=May 2010}}
[[File:All England Lawn Tennis Ground Ltd 1930.jpg|thumb|Debenture of the All England Lawn Tennis Ground Ltd., issued 20. August 1930]]
In sport, a '''debenture''' is defined as a certificate of agreement of loans which is given under the company's stamp and carries an undertaking that the debenture holder will get a fixed return (fixed on the basis of [[interest rate]]s) and the principal amount whenever the debenture matures. The terms may also include ancillary benefits such as an option to buy tickets at a favourable price, as well as or instead of interest. The term stems from the financial concept of a [[debenture]].

A large number of sporting organisations have issued debentures to raise money, to allow their fans to gain a financial stake in the club, to foster a sense of community, and in some cases to fund new construction.

== Royal Albert Hall ==

An early example of debenture holders having rights to seats at venues was the [[Royal Albert Hall]] in London, where about 1,200 of the hall's 5,500 seats were provided on 999-year leases when it opened in 1871 to help finance its construction costs, allowing access to most of its music, sporting and other events, subject to an annual service charge. The debentures can be passed on or sold, and the tickets to individual events can be resold if the debenture holder does not wish to attend.{{citation needed|date=September 2020}}

== Tennis ==

The organisers of the [[The Championships, Wimbledon|Wimbledon Tennis Championships]], [[All England Lawn Tennis and Croquet Club|The All England Club]], issue their debenture holders a ticket for each day of the tournament. Furthermore, only debenture holders are permitted to sell their tickets to third parties, either privately or through vendors.

== Rugby ==

A [[rugby football|rugby]] debenture is somewhat different as, in the most part, no money in the form of [[interest]] is returned to the [[lender]] but the rights to obtain tickets for a seat in that ground. The exact terms of the debentures vary from [[issue (legal)|issue]] to issue but will be covered in the main here. [[Charlton Athletic F.C.|Charlton Athletic]] also used this financial method to aid their move back to [[The Valley (London)|The Valley]].

=== Welsh Rugby Union ===

These debentures carry no interest on the amount invested and the advantage of holding said debenture is the right to obtain tickets at the [[Millennium Stadium]], the home of the [[Welsh Rugby Union]] where [[Wales national rugby union team|Wales]] play in the [[Six Nations Championship]].

The serial numbers on the debentures denominate the expiry date (although some are renewable and / or renewed earlier), starting with:

{| class="wikitable"
|-
! Certificate starts with
! Expiry date
! Surrender value
|-
| 05
| 1 March 2021
| £50
|-
| 100
| 1 March 2021
| £100
|-
| 200
| 1 September 2028
| £200
|-
| 300
| 1 September 2035
| £500
|-
| 410
| 31 August 2024
| £5,000
|-
| 420
| 31 August 2024
| £3,750
|-
| 430
| 31 August 2024
| £3,950
|-
| 440
| 31 August 2024
| £3,950
|-
| 450
| 1 September 2027
| £5,000
|-
| 460
| 1 August 2030
| £3,950
|-
| 470
| 1 September 2030
| £6,000
|}

The WRU has changed some of the numbers during the term of the debenture.<ref>{{cite web|url=http://www.debentureshop.com |title=Rugby Debenture shop and other debentures bought and sold |publisher=Debentureshop.com |date= |accessdate=5 May 2010}}</ref>

=== Rugby Football Union ===

These are issued by the [[Rugby Football Union|RFU]] and permit the holder to 10 years rights to the [[ticket (admission)|ticket]] issue; they are transferable and the principal sum invested is returned 75 years from date of issue.

An [[Rugby Football Union|RFU]] debenture confers on the debenture holder the right to purchase, at face value, one ticket for Rugby Union events at [[Twickenham Stadium]] for a given period, currently 10 years (with the exception of a small number of business debentures in the South Stand which confer ticket rights for 15 years). A debenture is fully repayable, currently after 75 years, but bears no interest.<ref>[http://www.rfu.com/Tickets/Debentures Twickenham Debentures]</ref>

The following is the current debenture issue:

{| class="wikitable"
|-
! Date of issue
! Number of private and initial cost
! Number of business and initial cost
|-
| 2000
| 1,269 @ £3,950
| 418 @ £12,000
|-
| 2001
| 1,068 @ £3,950
| 216 @ £12,000
|-
| 2002
| 868 @ £4,350
| 28 @ £12,000
|-
| 2003
| 3,751 @ £4,750
| 135 @ £12,000
|-
| 2004
| 1,052 @ £4,750
| 28 @ £12,000
|-
| 2005
| 2,314 @ £5,250
| 58 @ £12,000
|-
| 2006
| 3,295 @ £6,000
| 279 @ £14,000
|-
| 2007
| 102 @ £14,000
| 0
|-
| 2008
| 1,000 @ £6,750
| 96 @ £14,000
|}

== Other sports organisations ==

Other sports organisations which issue debentures in a similar fashion include:

* [[Arsenal Football Club]]
* [[Donington Park]]
* [[Hampden Park]]<ref name = "tickets">{{cite news |title=Hibs and Hearts handed 20,000 ticket allocations for Hampden |url=http://sport.stv.tv/football/scottish-premier/hearts/304217-hibs-and-hearts-handed-20000-allocations-for-hampden/ |work=STV |publisher=STV Group |date=20 April 2012 |accessdate=20 May 2012 |url-status=dead |archive-date=25 April 2012 |archive-url=https://web.archive.org/web/20120425195029/http://sport.stv.tv/football/scottish-premier/hearts/304217-hibs-and-hearts-handed-20000-allocations-for-hampden/ }}</ref>
* [[Millennium Stadium]]
* [[Murrayfield Stadium]]<ref>{{cite web|url=http://www.debentureshop.com/stadium.php?Stadium=Murrayfield |title=Murrayfield|publisher=www.debentureshop.com|accessdate=5 May 2010}}</ref>
* [[Nottinghamshire County Cricket Club]]
* [[Twickenham Stadium]]
* [[Wembley Stadium]]

Not all sporting debentures provide an entitlement to free tickets. Some organisations, such as the Millennium Stadium, merely give holders the right to purchase a ticket for events.

== See also ==

* [[Personal seat license]], an analogous concept amongst US sports franchises

== References ==

{{Reflist}}

{{DEFAULTSORT:Debenture (Sport)}}
[[Category:Cricket terminology]]
[[Category:Rugby union terminology]]
[[Category:Sports terminology]]
[[Category:Sports venues]]
[[Category:Loans]]
[[Category:Tennis terminology]]

Debenture (sport) - Revision history

imported>Stifle: /* Tennis */ I don't see it appropriate to name an individual vendor