Ageing US billionaire Donald Trump plans to set up a 'seniors' tennis tournament with his friend, former British tennis champ JOHN LLOYD.

The property tycoon, 59, and 51-year-old Grand Slam star Lloyd are hoping to use Trump's venue in New York's Central Park to hold the event.

Lloyd says, "I'm a friend of Donald, and have played golf and tennis with him often.

"I want to launch a new tournament and we're looking at Central Park in New York where he owns a venue called the Wollman Centre."