Wimbledon To Receive USD 141 Million In Compensation For Cancellation Due To Coronavirus: Report
According to reports, the All England Club stands to make 141 million dollars for the cancellation of Wimbledon 2020, thanks to a 17-year-old insurance cover.
Wimbledon has been cancelled due to the coronavirus pandemic
It was a gamble that paid off well for the Wimbledon organisers
They are reportedly set to receive 141 million dollars in compensation
Wimbledon, the only grass court Grand Slam, has been cancelled due to the coronavirus pandemic. However, it was a gamble that paid off well for the Wimbledon organisers, as they are reportedly set to receive 141 million dollars in compensation as the cancellation was caused due to a deadly pandemic, says the dailymail.co.uk. According to the report, based on a tweet by sports business reporter Darren Rovell, the All England Club had opted for pandemic insurance after the SARS outbreak in 2003 and reportedly paid 2 million dollars a year for 17 years.
Wimbledon reportedly paid $2 million a year for pandemic insurance for the last 17 years— Darren Rovell (@darrenrovell) April 8, 2020
(Total: $34 Million)
For this year's cancellation as a result of the Coronavirus, Wimbledon will reportedly receive $141 million from the policy.
The total insurance premium paid before the cancellation of Wimbledon 2020 was 34 million dollars. However, the claim is set to be a whopping 141 million dollars.
The Daily Mail further reported that the claim will help Wimbledon to cover the loss of revenue, more than 325 million dollars, following the scrapping of the fortnight-long tournament.
On April 1, the Wimbledon scrapped the grass court Grand Slam for the first time since World War II as the coronavirus wreaked further havoc on the global sporting calendar.
Earlier, the clay court event, French Open, was postponed until September due to the COVID-19.
The cancellation of the only grass court major at the All England Club leaves the season in disarray, with no tennis due to be played until mid-July.
"Devastated," tweeted eight-time champion Roger Federer.
Wimbledon was due to run for two weeks from June 29, with Novak Djokovic and Simona Halep set to defend their singles titles.