Wimbledon to get HUGE $123.4 million insurance cover after tournament cancellation: Report

After finally cancelling the oldest Grand Slam event due to coronavirus, Wimbledon is now preparing to submit an insurance claim which is‘in excess of $123.4 million (£100 million) according to multiple British media reports. The All England Club's insurance policy was being updated back in 2003 after organisers asked for a virus-related clause to be inserted following concerns over the SARS outbreak. The Wimbledon cancelled news amidst the UK lockdown marked the first time since the Second World War that the SW19 Grand Slam tournament will not be going ahead as per schedule.  

Also Read: Wimbledon Cancelled: Twitterati Makes Memes To Express Disappointment Over Decision

Wimbledon cancelled: Why was the decision taken?

The decision about Wimbledon cancelled was taken by All England Lawn Tennis Club (AELTC) amid UK lockdown due to coronavirus outbreak. The decision about Wimbledon cancelled decision was something which was taken for the first time in tournaments century-and-a-half history. Wimbledon which was scheduled to be played from June 29 to July 12. will now be played from June 28 to July 11, 2021.

Also Read: Patrick McEnroe Recovering From COVID-19, Backs Wimbledon Cancellation

Wimbledon insurance money

According to the report in The Times, the tournament's organizers are ardent about getting the Wimbledon insurance money worth upto £100 million ($123.4 million) since the clause covers infectious diseases. Wimbledon remains the only Grand Slam in tennis to have an insurance policy that includes a virus-related clause. 

The report also mentions that the exact amount of the pay out that the Wimbledon will earn from their policy remains unclear with the organising costs and the prize money of $4.9 million (£4 million) to be considered as deductions, now that the event has been cancelled. Wimbledon was set to bring in around $306 million (£250 million) in revenue for the grasscourt Grand Slam. 

Also Read:Isner: No 2020 Wimbledon Would Be 'tough Pill To Swallow'

According to the report, outgoing chief executive Richard Lewis on Thursday warned that, despite the good insurance policy, Wimbledon would survive a financial hit. He said that insurance will help protect the major damage to a large extent. He said that. 
Wimbledon is fortunate to have the insurance, but it doesn't solve all the problem with details and the figure probably not known for months.

Also Read: Roger Federer Reacts As Wimbledon 2020 Gets Cancelled, Feels 'devastated'

Coronavirus tool during UK lockdown 

As per a report by The Guardian on Thursday, the UK’s Department of Health and Social Care claimed that coronavirus numbers during UK lockdown involve 2921 people dying in hospital after testing positive. The report also mentions that 33,718 people in the UK tested positive to the disease.