Tennis Australia annual report shows $100 million loss due to COVID-19 restrictions, player quarantine for Australian Open



Tennis Australia sustained a net loss of more than $100 million in the 15 months around this year’s delayed — and COVID-19-affected — Australian Open, the body’s 2020-21 annual report showed.Key points:Tennis Australia emptied its cash reserves of $80 million and took a loan of $40 million due to the impact of COVID-19 on the Australian OpenTA’s latest annual report showed a net loss of $100.02 million from June 30, 2020 to September 30, 2021  Next year’s Australian Open, scheduled for January 17-30, will have full capacity on stadium courtsThe cost of flying players from around the world to Melbourne and quarantining them for two weeks in hotels put a huge financial burden on the organisers of the Grand Slam tournament.Restricted crowds — as well as a snap lockdown that kept fans out of the Melbourne Park precinct altogether for five days — limited the opportunities to mitigate the losses through ticket sales and other on-site revenue generators.The accounts showed Tennis Australia recorded a net loss of $100.02 million from July 30, 2020 to September 30 this year.LIVE UPDATES: Read our blog for the latest news on the COVID-19 pandemicTennis Australia’s cash reserves of $80 million were exhausted and the governing body took out a loan of $40 million to help get them through to next year’s tournament.Despite concerns around the Omicron COVID-19 variant, Australia’s external and internal border controls are being slowly relaxed as vaccination rates in the country rise.Full crowds for Boxing Day, Aus OpenAfter last summer’s MCG Test and Australian Open had severe restrictions, Victoria’s government is lifting crowd caps in time for both events to have capacity crowds.Read moreOrganisers are hoping for a more normal Australian Open in 2022.The tournament will return to its usual January slot after being put back to February last year, while all the stadium courts will be able to hold their full capacity.Players and officials who have been vaccinated will be allowed to fly into Australia and compete without any quarantine requirement.ReutersSpace to play or pause, M to mute, left and right arrows to seek, up and down arrows for volume.WatchDuration: 4 minutes 58 seconds4m 58s Heavily mutated Omicron variant puts scientist on alertWhat you need to know about coronavirus:Loading form…



Source link

Leave a Comment

%d bloggers like this: