Tennis Australia to reveal A$7 million loss - report

Tennis Australia is set to reveal a loss of nearly A$7mn ($6.32mn) for the past financial year, primarily due to reduced investment income linked to the global financial crisis, Australian media said on Monday.

Other factors for the loss also included a topping up of prize money, and the improvement of playing facilities nationwide, the Age newspaper said, paraphrasing Tennis Australia (TA) chief executive Steve Wood.

Organisers topped up prize money for the 2009 Australian Open to a record A$2mn last year to counter the Australian dollar's depreciation, after an initial increase from A$1.37mn to $1.62mn.

The 2010 Open's total purse has been increased again to $24.09mn, up 4.12% on the previous year.

TA was not immediately able to provide comment.