The cancellation of The Championships at Wimbledon in 2020 will see organisers miss out on more than £150 million, according to GlobalData’s Sportcal.
The COVID-19 crisis has decimated the sporting calendar due to widespread bans on public gatherings.
Many sports and events are seeking to go ahead behind closed doors, but The All England Lawn Tennis Club opted to cancel the event outright in advance of the summer.
Organisers can claim around £110m from their insurance cover – a significant chunk of lost revenue recouped – but the data claims they could stand to lose an eye-watering £154m in missed revenue
The Sportcal data claims Wimbledon had the potential to generate £42m from ticket sales alone, while media broadcasting deals racked up to £71m.
Sponsorship for the event would have provided another £41m, and while a total estimated revenue figure for food, drinks and merchandise is unclear, the Championships made £450k from strawberries and cream alone in 2019.
Perhaps the saving grace for Wimbledon, on top of their healthy insurance pay-out is the saving they will make from a near-£40m prize money purse that will no longer be shared out.
Of course the knock-on effect means players, clubs and local businesses will certainly feel the pinch of Wimbledon’s cancellation.
Sportcal Analyst Jake Kemp said: “Players outside the elite group that include the likes of Federer, Djokavic and Serena Williams are likely to be most seriously affected.
“Event organisers and their local economies are financially missing out on the potential economic boosts brought about from sponsorship and tourism.
“For many of these lesser-ranked tournaments, their presence on the ATP/WTA tour could be the financial revenue driver that enables its club to run for the following year.
“Therefore, cancellation of these events will severely affect their annual income for 2020. Some of these tournaments may not be able to recover these costs and as such may not be able to return to the tour in the coming years.”
Wimbledon will not be played later in the year, it will return in the summer of 2021 providing it is safe to do so.
RadioTimes.com has reached out to The AELTIC for comment.