[IBM]

Wimbledon paid pandemic insurance for almost 20 years. Now it’s getting $141 million

The tournament’s risk and finance subcommittee insisted on a pandemic clause nearly 20 years ago.

www.sbnation.com

Guess that dude, who came up with the insurance and had to defend all their pays to that the pst twenty years, must feel like a genius now.

 

[TheLastJedi]

Well, that depends on how much they paid the premium. Read the article and the premium was nowhere to be found. That's why I hate today's journalists. They don't bother providing information.

 

[EkVraNaamEnVan]

Well, that depends on how much they paid the premium. Read the article and the premium was nowhere to be found. That's why I hate today's journalists. They don't bother providing information.

Well...

According to Darren Rovell of The Action Network, Wimbledon reportedly paid $2 million a year for pandemic insurance for the last 17 years. As a result, because of the cancellation of this year’s event as a result of the coronavirus, Wimbledon will receive $141 million.

While the $141 million will soften the blow, it’s still a sizable loss of revenue — according to the Daily Mail, this year’s tournament was expected to generate $309 million in revenue.

 

[MaratandMilos]

It wasn't "pandemic insurance" strictly speaking. It was a general policy that added an infectious disease clause after SARS. I would imagine a lot of sporting events have something similar in their policies.

 

[JambaJuice95]

Smart move!

 

[swiss_tennisgod]

Really smart, thoughtful move. Because of this, Wimbledon could take the high route, cancelling the tournament early and cementing its status as one of the most relevant sports events in the world.

On the other hand, those fuckers from the French Open made a desperate, nasty grab for money and postphoned it without consulting everbody. Their image is destroyed forever, they will never recover.

 

[NADALalot]

Wimbledon didn't take the high route, they just took the easy route, easy money.
And Wimbledon is the most irrelevant slam event of 2020.

 

[Virtualmorpher]

I take it RG didn't have such insurance so they tried not to cancel like Wimbledon ended up doing. Since they also rebuilt a court with a roof, I'd imagine they are short on funds right now.

 

[just1ce]

Their image is destroyed forever, they will never recover.

 

[smithy]

Well, that depends on how much they paid the premium. Read the article and the premium was nowhere to be found. That's why I hate today's journalists. They don't bother providing information.

$2 million a year, and it started 17 years ago. Why 17 years ago? Well, that was when the SARS pandemic took place.

People are mentioning revenue but considering Wimbledon won't be paying out prize money (which alone is $50 million), staff costs etc. they're coming out of this not too badly at all.

Give that man a raise.

 

[yellow grass]

French open organizers look like such amateurs compared to Wimbledon's

 

[VyRa | esq.]

Wimbledon paid pandemic insurance for almost 20 years. Now it’s getting $141 million

The tournament’s risk and finance subcommittee insisted on a pandemic clause nearly 20 years ago.

www.sbnation.com

Guess that dude, who came up with the insurance and had to defend all their pays to that the pst twenty years, must feel like a genius now.

He is probably dead anyway. Must have been some old higher rank dude of the club with their lawyer or insurance expert.

 

[TheLastJedi]

Well...

$2 million a year, and it started 17 years ago. Why 17 years ago? Well, that was when the SARS pandemic took place.

People are mentioning revenue but considering Wimbledon won't be paying out prize money (which alone is $50 million), staff costs etc. they're coming out of this not too badly at all.

Give that man a raise.

That's why Wimbledon made such a quick decision to cancel.
To make good money. Greedy bastard!

 

[MatthewPup]

Wow, for once Wimbledon wasn’t overrated

 

[guitarra]

The man who came up with this idea should now get a huge bonus.

 

[64794]

Sorry if a repost, this is awesome, whoever came up with this, probs got a medal inside the All England Club. They should be more than fine now.

https://twitter.com/i/web/status/1247933676874334208

 

[Budadiii]

He is probably dead anyway. Must have been some old higher rank dude of the club with their lawyer or insurance expert.

And why would he be dead? Lol

 

[alexocfp]

Going forward, this type of insurance won’t be offered anymore, and if it is, it won’t anywhere near 2 million per year.

Premium for this will skyrocket now.

 

[emily101]

But how much is Wimbledon's net earning annually?

 

[Bella&Mirka]

But how much is Wimbledon's net earning annually?

not much, it's just a net after all.