This year, the coronavirus crisis forced the cancellation of professional tennis’ most esteemed event.
Wimbledon — the Grand Slam tournament played each summer in England — recouped $141 million in potential losses by taking out “pandemic insurance” prior to the mass spread of COVID-19.
Now, the prize money from the tournament will be reallocated to the 620 players eligible for the event through the main draw or a qualifying event.
The coronavirus crisis forced the sports world to a grinding halt, and even tennis’ most esteemed event felt the effects.
Back in April, Wimbledon was canceled for the first time since World War II. But thanks to a “pandemic insurance” policy the tournament’s organisers had taken out prior to the mass spread of COVID-19, players will get paid without stepping on the famous grass courts of the All England Lawn Tennis & Croquet Club.
The London-based club announced, on Friday, that it would devote £10,066,000 — or $12,714,767 — of the $141 million in potential losses it recouped via the rare insurance policy towards paying each of the 620 players eligible for this year’s event.