$20 Million Boost Allows World Tennis’ Apex Body to Put Its Pandemic Misery Firmly in the Past as Revenues Soar Once More

The 2022 accounts of the International Tennis Federation (ITF) revealed some staggering numbers. During the pandemic, the Federation suffered plenty of losses, but the new $20,000,000 boost can turn out to be a potential game changer. It’s also massive news for the players as ITF plays a crucial role in their development.

Along with player development, organizing international tennis tournaments is one of the primary responsibilities of the ITF. Davis Cup, Billie Jean King (BJK) Cup and Hopman Cup all fall under the control of the ITF. In fact, the BJK Cup has played a major role in the recent influx of the ITF’s revenue!

Massive revenue boost for ITF

After the cancellation of the BJK 2021 Cup agreement with the Hungarian Tennis Association, $20 million has been injected into the ITF’s accounts. Going back to 2021, plenty of controversy took place when the event was cancelled.

According to Inside The Games, David Haggerty, the ITF President, said “After working together in good faith for the past year, we were surprised and disappointed to be informed that the [Hungarian Tennis Association] no longer considers it possible to hold the event in Budapest. Given the timing, the ITF has been left with no other option than to end the hosting agreement with Hungary and explore an alternative solution.”

A $20,000,000 revenue boost must have led to a massive increase in income as well, right? Well, that wasn’t the case with the ITF as their accounts are still running under losses.

The International Tennis Federation is still facing losses

Despite the massive monetary boost, the Federation still seems to be running under losses. A massive negative return from an investment portfolio has wrecked their accounts for the year. The ITF’s books show a $4.2 million loss for the year 2022. On the bright side, the loss has been significantly cut down from a horrific $7.9 million loss for the year 2023.

READ MORE: “We Are Claiming Upto $50,000,000” – Trouble for International Tennis Federation as Gerard Pique Seeks Damages After Investing $100 Million in Davis Cup

However, the ITF also looks to get back on the right track. The revival of the ongoing Hopman Cup after a 4-year drought looks like a strong step going forward. If the ITF can take the right steps in the upcoming future, they can free themselves from suffering regular losses.

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