Wimbledon is going to make a profit after canceling its event in 2020. The venue was reportedly insured in case of a pandemic, and will make over $140 million due to his year’s coronavirus cancelation, according to Action Network’s Darren Rovell.
The venue had paid $2 million a year over the last 17 years in pandemic insurance. Now that the event is canceled, Wimbledon will reportedly receive $141 million thanks to that policy.
Wimbledon reportedly paid $2 million a year for pandemic insurance for the last 17 years
(Total: $34 Million)
For this year's cancellation as a result of the Coronavirus, Wimbledon will reportedly receive $141 million from the policy.
— Darren Rovell (@darrenrovell) April 8, 2020
That may be the reason Wimbledon canceled its 2020 event. By canceling, the event could collect the insurance money. Had Wimbledon only postponed the 2020 tournament, it would not have been eligible to collect that money. It’s the first time Wimbledon has been canceled since World War II.
While that’s a massive amount of money, it represents a loss for Wimbledon. Had the event proceeded as normal, Wimbledon was expected to make around £250 million — about $309 million — in revenue, according to the Daily Mail.
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