The most common and most likely answer to this crossword clue is the 4 plus 4 letter word WILD CARD
I've seen this crossword clue in The Times
W
I
L
D
C
A
R
D
Buddy explains!
The straight part
We know that "Free entry to Wimbledon/Has it any value" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case free entry to wimbledon/has it any value = wild card.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.