This year’s Wimbledon has been canceled due to the coronavirus outbreak, but organizers of tennis’ most prestigious tournament are apparently super wise, as they had in mind that something like this could happen and insisted the Grand Slam had epidemics coverage in their insurance, so now they will receive a reported payout of over $140 million.
According to Action Network’s Darren Rovell, Wimbledon has reportedly been paying $2 million a year over the last 17 years in pandemic insurance, as the All England Club’s Risk and Finance Sub-Committee insisted on upgrading the insurance policy with the clause. So, Wimbledon paid out a total of $34 in that time period, while now they are expected to get $141 million from insurance.
Wimbledon reportedly paid $2 million a year for pandemic insurance for the last 17 years
(Total: $34 Million)
For this year’s cancellation as a result of the Coronavirus, Wimbledon will reportedly receive $141 million from the policy.
— Darren Rovell (@darrenrovell) April 8, 2020
Although the amount of money is huge, it will only help Wimbledon survive the year without major losses. Had the grasscourt major proceeded as normal, their revenue would’ve been about $309 million.
Another interesting thing regarding Wimbledon’s insurance is the fact that they are also covered in case the Queen passes away and the UK goes through a period of national mourning, as Insurance Business Mag reports.
This is the first time since World War II that Wimbledon has been canceled. The Grand Slam will return in 2021, with the 134th edition set to take place from 28th June 28 to 11th July. (source: Yahoo Sports, photo via spacetrash)
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