The new agreement with Kia takes Tennis Australia past the record $18.5 million-a-year deal the AFL signed with Toyota in 2019, which is due to expire at the end of 2023. The South Korean car brand has sponsored the Australian Open since 2002.
It joins brands including watchmaker Rolex, Chinese liquor company Luzhou Laojiao, airline Emirates and MasterCard as partners of the tournament.
Tennis Australia chief executive Craig Tiley.
Tennis Australia’s revenue plummeted during the pandemic, from $463.8 million in the 2020 financial year to $358 million in 2021. It surged back to $505 million in 2022.
It recorded a $4.4 million profit in 2022, down from $75.2 million in 2021, and reported a loan of more than $40 million over 2021 and 2022 from the Victorian government.
The sporting body signed a five-year deal with Nine in November for $500 million in cash and contra – additional…