Tennis: Tennis-Australian Open leaves $71 million gap in Tennis Australia accounts

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SYDNEY (Reuters) – Tennis Australia sustained a web lack of greater than A$100 million ($71 million) within the 15 months round this 12 months’s delayed and COVID-19 affected Australian Open, the physique’s 2020-21 annual report confirmed.

The price of flying gamers from around the globe to Melbourne and quarantining them for 2 weeks in accommodations put an enormous monetary burden on the organisers of the Grand Slam event.

Restricted crowds in addition to a snap lockdown which saved followers out of the Melbourne Park precinct altogether for 5 days restricted the alternatives to mitigate the losses by way of ticket gross sales and different on-site income turbines.

The accounts confirmed Tennis Australia recorded a web lack of A$100.02 million from July 30, 2020 to Sept. 30 this 12 months.

Tennis Australia’s money reserves of A$80 million had been exhausted and the governing physique took out a mortgage of A$40 million to assist get them by way of to subsequent 12 months’s event.

Regardless of concern over the Omicron coronavirus variant, Australia’s exterior and inner border controls are being slowly relaxed as vaccination charges within the nation rise. Organisers are hoping for a extra regular Australian Open in 2022.

The event will return to its normal January slot after being put again to February final 12 months, whereas all of the stadium courts will be capable to maintain their full capability.

Gamers and officers who’ve been vaccinated will likely be allowed to fly into Australia and compete with none quarantine requirement.

($1 = 1.4108 Australian {dollars})

(Reporting by Nick Mulvenney, modifying by Richard Pullin)



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