Tennis Australia Suffers Major Financial Loss Due To COVID-19 Pandemic - UBITENNIS

Tennis Australia Suffers Major Financial Loss Due To COVID-19 Pandemic

Millions has been lost over a 15-month period, according to an official document.

By Adam Addicott
3 Min Read

Tennis Australia’s staging of the 2021 COVID-19-affected Australian Open came at a huge financial cost, according figures published in their annual report.

The governing body has revealed that between June 30, 2020 and September 30, 2021 they suffered a total loss of AUS$100.02 million which equates to roughly $71M in US dollars. Part of the heavy loss is linked to the hosting of this year’s Australian Open in accordance to rules related to the pandemic. Charter flights were provided to players for them to fly into the country. Then they all have to go through quarantine at designated hotels. To add to the financial burden, during the Grand Slam fans were banned from attending for a five-day period after Melbourne went into a snap lockdown. On the days the event was opened up to the public it was for a limited capacity crowd.

It was also confirmed that Tennis Australia used all of their AUS$80M cash reserves and subsequently had to borrow an additional AUS$40M loan in order to help them with their staging of next year’s Australian Open.

It is hoped that the organisers will be able to regain some of their financial loss in January where the country will host a series of ATP and WTA tournaments prior to the Melbourne major. As it currently stands, the Australian Open will be operating with full capacity crowds which maximises their earning potential from the visiting fans. There is also no mandatory quarantine required for players arriving in the country. Instead, they will have to take a COVID-19 test both before and upon arrival. Furthermore, they must also be double vaccinated in order to play.

Officials are hoping to stage the 2022 Australian Open in more normal circumstances despite the threat of the recently discovered Omicron variant which scientists are still looking into. The first case of community transmission of the variant in Australia was discovered on Friday in New South Wales.

“We’re still waiting. I’ve been talking to the government … there’s still a lot of unanswered questions around this (new COVID-19 variant),” tournament director Craig Tiley told the Nine Network earlier this week.
“I think in the next 14 days we will have some clarity, but at this point, the plans are going ahead as they are.”

The Australian Open is set to get underway on January 17th.

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