AELTC expected to receive £114 million thanks to insurance policy

The All England Lawn Tennis Club (AELTC) is expected to receive a substantial payout from its insurance policy, which covers unforeseen events such as the coronavirus pandemic. Last week, Wimbledon was cancelled for the first time since the end of World War II in 1945.

According to an official quoted by The Times, the policy costs "in the low seven figures," and various accounts have indicated the potential payment could be around £114 million (roughly $141 million).

The cost of the policy has also been quoted as $2 million annually. The public health clause, which most tournaments do not appear to have, was added (at further cost) by the AELTC's subcommittee following the 2003 epidemic of SARS.

The amount received will not be as much as the around $280 million the tournament earns annually, but it will help pay for expenses like permanent staffing and maintaining its renowned grass courts. The LTA, Great Britain's national federation, also receives around $45 million annually—most of its income—from the tournament's profits.

"Of course we're fortunate to have the insurance and it helps, but it doesn't solve all the problems. The details and the figure probably won't be known for months," the Club's CEO Richard Lewis was quoted as saying.

The cancellation was announced a week ago, along with the rest of the grass-court season. All tour events will not move forward as scheduled until July 13 at the earliest.