THE CHAMPIONSHIPS at Wimbledon has been the biggest casualty on the tennis calendar thus far, despite the $139m compensation from insurance cover after opting to cancel operations in 2020.
Jake Kemp, analyst at GlobalData’s Sportcal, commented: “Varying price tags for Wimbledon tickets, from ground passes to seats in centre court, ranged between $9 and $278 last year.
“Tickets are always in huge demand and, after looking at daily audience capacities, the Championships had the potential to generate $52,508,900 in ticket money this year – with 500,397 fans attending in 2019.”
Other associated losses for organisers at Wimbledon include lost rights payments pertaining to its media and sponsorship deals, which typically bring in an estimated $138.4m each year.
Consumer spending at the event represents another big loss in 2020 considering sales of strawberries and cream brought in $556,239 income in 2019.
Kemp added: “Players outside the elite group which include the likes of Roger Federer, Novak Djokovic 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.”
For any tournaments able to see out the current difficulties, GlobalData expects to see costs cut in future competitions, including courtesy travel, expenses and a reduction in prize money.
Kemp concluded: “The tour event at Indian Wells (USA), often regarded as the fifth tennis Grand Slam, boosts the local Coachella Valley economy by an estimated $406m.
“The region stands to be hit hard by COVID-19, with tourism its number one income generating industry.”