Tennis Australia says it expects to use up most of its AU$60 million reserves to maintain funding to the sport as it battles the COVID-19 pandemic.
TA chief Craig Tiley said the governing body would likely spend more than A$40 million on quarantine and biosecurity operations for the first slam of 2021.
“We also expect that we will use the majority of our reserves in maintaining funding to the sport and playing group,” Tiley said.
“As a result of these costs we are exploring options for a line of credit and/or a loan which will allow us to maintain cash flow at critical times and support us in the recovery from the impacts of the pandemic once access to government subsidies have ended.
“We believe that recovery from the pandemic will take up to five years.”
Iga Swiatek took her revenge on Saturday to win the Madrid Masters over Aryna Sabenka a…
Jannik Sinner's golden season was tarnished on Saturday, with the world No. 2 forced to…
Felix Auger-Aliassime received another stroke of luck on Friday as he advanced to the Madrid…
Andrey Rublev pounded 20 winners as he eliminated Taylor Fritz 6-4, 6-3 in Madrid to move…
The injury-marred season of Carlos Alcaraz jumped from bad to worse on Friday as the…
Rafael Nadal could well duplicate the 2022 retirement scenario of Roger Federer, announcing the end…