Wimbledon receives $141 million as Insurance over the Grand Slam Event’s cancellation

Wimbledon 2020

The only Grass-Court Grand slam event, Wimbledon has been called off this year due to the scarce of the Coronavirus pandemic. One of the four major Grand Slam events, the cancellation of this year’s competition received mixed reactions from the Tennis players and the fans across the globe. The organizers of the event have now received a hefty amount of $141 million from the insurance companies as the pandemic led to the suspension of the competition. 

Wimbledon Tennis Championship

Apparently, the Wimbledon reportedly $2 million a year for 17 years to be protected by something which was called pandemic insurance. So during this time of crisis when the whole world has been hit by the Coronavirus enforcing the suspension/ postponing the sporting events around the globe, Wimbledon became one of the victims of the deadly virus. 

But as per Darren Rovell, a sports business reporter with Action Network the Wimbledon will be taking away huge money home as the sum insured due to the cancellation. Wimbledon had paid $2 Million to the insurance company for 17 years and as per the calculation, the total amount summed up to be $34 million. 

Last week, the All England Lawn Tennis Club (AELTC) had also mentioned about the policy they had for these kinds of situations. And looks like, the Wimbledon becomes of the biggest beneficiaries despite calling off the whole tournament. 

The French Open has been moved to the September window, two weeks after the US Open. While the Australian Open will take place in January and no such shadow of Coronavirus on its schedule.