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The All England Lawn Tennis Association, which organises the Wimbledon tennis tournament, looks set to get a $141- million-payout, almost half of its losses from cancelling the event thanks to the $2 million pandemic insurance it has taken out every year for the last 17 years, Action Network reports.
Wimbledon was set to run from June 29 to July 12 this year, but was cancelled for the first time since World War Two, because of the coronavirus pandemic.
But according to Action Network sports business reporter Darren Rovell, the organizers are set to receive a $141 million payout thanks to the coronavirus pandemic insurance policy it has paid a total of $34 million for, over the last 17 years.
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.
source forbes.com
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