And finally… Wimble-done
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As the coronavirus outbreak forces the cancellation of sporting events worldwide, Wimbledon’s organisers, the All England Club, has cashed in on an insurance policy worth £100 million.
The tennis event was covered by an insurance policy which included the outbreak of infectious diseases.
The foresight of the All England Club in taking out the policy contrasts that of the French Open. The French Tennis Federation highlighted its desperation to reschedule the tournament from May to September this year because it did not have a policy which covered its cancellation. In total, it currently expects to take a £230m hit.
Discussions between the insurance provider and the All England Club will continue to determine the exact amount of compensation to be paid out.
It was expected that Wimbledon would generate £250m in revenue. However the payout will be lower because the club will not have to pay its staff, construction costs and £40m in competition prize money, The Times reports.
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