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.
The insurance policy was reported by The Times in March, before the event was cancelled.
The AELTC has not confirmed the figures, but told Rovell that the club has “always sought to buy the optimum insurance coverage available.”
Ahead of the cancellation, German Tennis Federation Vice President Dick Horsdorff, told Sky Sports in Germany at the end of March: “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, 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.
Most sports businesses are unlikely to have taken out such a policy, but could be covered by a clause called “force majeure”, or “superior force” which could cover unexpected acts, Action Network reported.