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Wimbledon to recoup $141 million through pandemic insurance

by April 9th, 2020

The All England Lawn Tennis Club, the organizers of Wimbledon, looks set to recoup almost half of its losses from cancelling the event thanks to the $2 million pandemic insurance policy it has taken out every year for the last 17 years.

Wimbledon was set to run from June 29 to July 12 this year, but was cancelled for the first time since World War 2, because of the coronavirus pandemic.

According to Darren Rovell, a sports business reporter with Action Network, the organizers are set to receive a $141 million payout thanks to the insurance policy it has paid a total of $34 million for, since 2003.

Last week, the All England Lawn Tennis Club (AELTC) mentioned the policy when announcing the tournament’s cancellation.

A similar pandemic clause is reportedly why the Royal & Ancient Golf Club of St. Andrews could walk away relatively unscathed without an open championship this year if it wanted, while other events that have yet to be played are and were more inclined to postpone.

Neither the R&A nor the All-England Lawn Tennis Club have confirmed the details of their insurance policies, though a spokesperson for the AELTC said she could confirm that the club “has always sought to buy the optimum insurance coverage available.”

Wimbledon, which draws some of the world’s biggest tennis stars, celebrities and tennis fans to London’s SW19 each year, was expected to generate $310 million in revenue this year from ticket sales, broadcasting rights, sponsorships and more, while it has a $42 million prize fund.

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