Wimbledon is set to receive a pandemic insurance package worth a reported $141 million which will allow it to recoup some of the losses it’ll suffer from the cancellation of the 2020 tournament because of coronavirus.
The All England Lawn Tennis Club has purchased pandemic insurance for 17 years at a cost of roughly $2 million per year, according to Darren Rovell of The Action Network. The Wimbledon organizers reportedly sought a pandemic insurance clause after the SARS outbreak in 2003.
As a result of the cancellation of this year’s event due to the coronavirus, Wimbledon will receive $141 million (N51.7 Billion)
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
While the $141 million will soften the blow, it’s still a sizable loss of revenue according to the Daily Mail, this year’s tournament was expected to generate $309 million in revenue.
