Wimbledon has paid about $2 Million a year for the past 17 years for “pandemic insurance.” Now, the tennis tournament that is the most famous in the world will be cashing out the policy for a breathtaking $141 Million.
The head of the All England Lawn Tennis Club (AELTC) spoke about the policy last week, saying they were “fortunate” to purchase the pandemic insurance when the time came to make that decision.
Meanwhile, just before the cancellation, German Tennis Federation Vice President Dick Horsdorff, told Sky Sports: “Wimbledon was probably – as the only Grand Slam tournament many years ago predictive enough to insure itself against a worldwide pandemic, so that the financial damage should be minimized there.”
Wimbledon’s 2020 event was canceled due to the coronavirus pandemic. If it were “postponed,” the organization wouldn’t have been able to receive the insurance payout, according to Action Network’s Darren Rovell.
