Insurance Payout for 2001 Ryder Cup

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The European Tour and the British Professional Golfers Association are set for an insurance payout of up to 20 million pounds ($32,504,000) for the loss of the 2001 Ryder Cup, according to The Herald in Scotland..
 
The 2001 Ryder Cup was postponed for a year at short notice after the terrorist attacks on New York City. The payout is a reimbursement for the cost of staging the contest, the outlay of which could not be recouped. It is believed to be the largest insurance payout in history for a sports event.
 
The insurance claim is expected to be finalized within a few weeks.