Tennis Australia sustained a net loss of more than A$100 million (US $71 million) because of the delayed and COVID-19 affected 2021 Australian Open.
The cost of flying players to Melbourne and quarantining them for two weeks put a massive financial burden on the organisation, accounts have revealed.
Restricted crowds and a snap lockdown which kept fans out of the Melbourne Park for five days saw a slump in ticket sales.
The accounts showed Tennis Australia recorded a net loss of A$100.02 million from July 30, 2020 to September 30 this year.
Tennis Australia’s cash reserves of A$80 million were exhausted and the governing body took out a loan of A$40 million to help get them through to the 2022 tournament.
The event is scheduled to return to its usual January slot after being put back to February last year, and spectators are back.