Wimbledon Had Insisted on Pandemic Insurance, Will Collect $141m
The 2020 Wimbledon was cancelled due to coronavirus but will now collect £114 million as insurance.
The grass courts of SW19 will remain empty this July with the tournament getting cancelled due to the coronavirus outbreak. However, the All England Club will not be taking as big a monetary hit as some of the other sports events that have faced a similar setback.
The All England Club, the organisers of the tournament, had reportedly updated their insurance policy almost 20 years back to include the infectious disease clause. The Club’s risk and finance subcommittee are believed to have insisted on the updated policy following the SARS outbreak in 2002 and as a result, will be collecting £114 million from their insurers following the cancellation of the tournament.
The organisers were set to lose an estimated £250 million after calling off the tournament last week but the insurance payment will help them cut their losses.
Wimbledon first was played in 1877 and has been contested every year since, with the exception of two stretches: from 1915-18 because of World War I, and from 1940-45 because of World War II. This year’s cancellation is now the first time since World War II.
The tournament is also the first major tennis championship completely wiped out this year because of the coronavirus. The start of the French Open was postponed from late May to late September. As of now, the U.S. Open is still scheduled to be played in New York from Aug. 31 to Sept. 13.
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