Wimbledon set to receive $141 million after paying for pandemic insurance for 17 years: Reports

The organisers of Wimbledon are set to receive a mammoth insurance payout after the COVID-19 pandemic forced the cancellation of the iconic tennis event. As per multiple reports, the All England Lawn Tennis Club (AELTC) purchased a pandemic insurance policy for 17 straight years at a cost of around $2 million per annum. Reportedly, the organisers of Wimbledon sought a pandemic clause after the SARS outbreak in the year 2003.

With the pandemic insurance policy in place, the organisers of Wimbledon will receive an estimated $141 million after the cancellation of the tournament, as per reports. Notably, Wimbledon wouldn’t have been eligible for the clause had the organisers decided to postpone it rather than cancelling the tournament.

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The pandemic insurance policy will give Wimbledon the upper hand to control and short-term financial difficulties. As per a report, the 2020 Wimbledon was supposed to generate more than $300 million in revenue.

AFLAC CEO Richard Lewis addressed the pandemic insurance clause. “We’re fortunate to have the insurance and it helps,” Lewis told a leading British daily. “The insurers, the brokers and everybody involved have been excellent to work with so far, but there’s still a lot of work to do.”

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Earlier, the organisers had announced that The Championships 2020 stood cancelled due to public health concerns linked to COVID-19 pandemic while adding that the 134th Championships will is now scheduled to stage from June 28, 2021, to July 11, 2021.

“It is with great regret that the AELTC has today decided that The Championships 2020 will be cancelled due to public health concerns linked to the coronavirus epidemic. The 134th Championships will instead be staged from 28 June to 11 July 2021,” the official account of Wimbledon had tweeted.