Oh I say! Murray suffers £3million net loss
SIR Andy saw the value of his business empire fall by more than £3 million last year, figures have revealed.
The three-time Grand Slam winner’s earnings dipped during a difficult 12 months as he was sidelined with injuries and the pandemic.
Murray, 34, has made huge sums through a string of lucrative merchandising and sponsorship deals as well as property investments.
Latest accounts for his company 77 Management show it is valued at £22.6 million – a drop of £3.4 million from the year before.
The company did not publish profit figures for 2020 as its turnover was less than £6.5 million.
Murray changed the name of the company from Parched Investments to 77 Management to mark him becoming the first British male in 77 years to win Wimbledon.
The London-based company also controls the Cromlix hotel near his home town of Dunblane, Perthshire. Murray bought the hotel in 2013 for almost £2 million.
The firm, which has two full-time employees, paid just £7,000 in tax during the year due to the drop in income. Between 2013 and 2019, the value of the company had risen from £10 million to more than £26 million.
The money held in the company is thought to represent only part of Murray’s total net worth.
The Scot, who has won Wimbledon twice after his maiden Grand Slam success at the US Open, has career prize money totalling around £50 million – taking home £12.4 million in 2016 alone, where he finished the year as No 1 in the world.
Murray has endorsement deals with tennis retailer Head and sportswear firm Castore. Matt Gentry, managing director of 77 Management, insists Murray is selective about endorsements.
He said: ‘If it affects his training schedule, or he doesn’t believe in the product, he won’t do it, regardless of the money.’
In 2019, Murray announced that he planned to retire due to injury but made a return to action following a hip resurfacing operation.
He looked in good shape this week at the Mubadala World Tennis Championship in Abu Dhabi, UAE, defeating long-time rival Rafael Nadal in straight sets before losing last night’s final to Andrey Rublev.