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Sport 'We have to be prepared': Contingencies being made for 2021 Australian Open

02:46  07 april  2020
02:46  07 april  2020 Source:   smh.com.au

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Contingencies can be prepared for, but often the nature and scope of such negative events are unknowable in advance. Managers may seek to proactively open credit lines while a company is in a strong financial position to ensure access to borrowing in less favorable times.

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Tennis - Australian Open - Men's Singles Final - Melbourne Park, Melbourne, Australia - February 3, 2020. Serbia's Novak Djokovic kisses the trophy after winning his match against Austria's Dominic Thiem. REUTERS/Kai Pfaffenbach © Thomson Reuters Tennis - Australian Open - Men's Singles Final - Melbourne Park, Melbourne, Australia - February 3, 2020. Serbia's Novak Djokovic kisses the trophy after winning his match against Austria's Dominic Thiem. REUTERS/Kai Pfaffenbach Tennis Australia is making contingencies in case the 2021 Australian Open can't go ahead as normal in Melbourne in January.

CEO Craig Tiley said they were preparing for the possibility that international players will have to undergo quarantine, or for the tournament to go ahead without fans in the stadiums.

"There is just so much uncertainty as to what is going to happen in the next month let alone the next eight months," Tiley said in a statement on Tuesday.

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"These extraordinary times dictate a need for agility and extensive planning that explores a very wide range of options.

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Contingencies : Loss Contingencies . A loss contingency involves an existing uncertainty as to Whether a contingency is accrued and reported as a liability depends on the likelihood that the Even if a claim has yet to be made when the financial statements are issued, a contingency may warrant

"We have to be prepared for a changed environment. We obviously hope that as a community, we are through COVID-19 as quickly and safely as is possible. But we don't know which of the current measures being used to try and contain the spread of infection will still need to be in place for the medium to long term.

"For example, with such a high-dependency on international travel we are looking at what we might have to do if players need to be quarantined for any length of time before being allowed to freely move around Australia.

"Another example is if mass gatherings are still not allowed or severely restricted next year, we are looking at the possibility of running an event for broadcast. These are just two of many scenarios we have to examine."

In Pictures: Australian Open Champions

Meanwhile, the men's and women's professional tennis tours are examining contingency plans for post-coronavirus rescheduling, including the possibility of pushing back the end of the 2020 season.

The heads of the WTA and ATP said on Monday their groups are working together on ways to assemble a new calendar.

Under consideration are moving postponed tournaments into weeks that already have events and making the season longer than it already is by playing past the tours' originally slated November finishes.

All of pro tennis is suspended at least until July 13 because of the COVID-19 outbreak.

That is the day after Wimbledon was supposed to end; the All England Club announced last week it was cancelling the oldest grand slam tournament for the first time since it was shelved from 1940-45 during World War II.

The tours have been periodically telling tournaments, players and the public how long the suspension will last. Another update is expected by the middle of May.

ATP chairman Andrea Gaudenzi said the men's tour ideally would like to finish the season on time in November if competition can resume in July.

"Nothing is ruled out at this stage," he said.

Tennis finds itself in a somewhat unique position because of the international travel required of athletes from week to week, the players' status as independent contractors and the lack of one overarching governing body.

While superstars such as Serena Williams, Roger Federer, Rafael Nadal and Novak Djokovic have earned millions upon millions over the years - more from sponsorships than prizemoney - lower-ranked players depend on playing regularly in tournaments for their income.

The combined ATP-WTA Madrid Open, which was to be played May 1-10, announced on Monday it will have a video game version of the tournament on April 27-30, with players swinging controllers instead of rackets.

About $325,000 in prize money will go to the winners, who then can decide what portion of that will be donated to tennis players who need financial help.

Another $55,000 will be used to reduce the social impact of the pandemic.

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