Tennis Australia suffer $100 million net loss after Covid-19 hit Australian Open
The Covid-19 hampered Australian Open caused Tennis Australia to suffer a $100 million dollar net loss and forced them to take out a $40 million loan.
Tennis Australia’s latest annual report showed that they had sustained a net loss of more than $100 million Australian dollars ($71 million American dollars or £53 million pounds) in the 15 months surrounding the 2021 Australian Open. The 2021 ‘Happy Slam’ was first delayed and then heavily impacted by Covid-19.
Costs were incurred by flying players from all around the world into Melbourne on chartered flights and then placing them under mandatory hotel quarantine procedures for two weeks.
This was also compounded by the reduced capacities, as well as a lack of spectators and restricted crowds due to a sudden lockdown that prevented fans from attending Melbourne Park for five days. This in turn led to a decrease in ticket revenue and other sales that would have mitigated some of the costs.
? Read >> Breaking tennis news
? Follow >> 24/7 LIVE scores
? Free >> Receive our legendary newsletter
? Order >> World’s best tennis magazine