ANZ Bank has reversed its previous decision to cut ties with the Australian Open and has instead chosen to cut funding for a school children’s tennis program.
The new three-year deal will focus on corporate hospitality and entertaining clients. However, since 2014, the bank had sponsored Tennis Australia’s children’s starter program, Tennis Hot Shots.
In fact, Tennis Australia and ANZ are reported to have resigned their partnership in March last year, just eight weeks after the bank walked away from the 13-year partnership.
Tennis Australia is looking for a new Hot Shots partner.
A spokeswoman for ANZ told the Australian Financial Review that it was pleased to continue its “valuable partnership with Tennis Australia as official bank of the Australian Open”.
“The new agreement focuses on creating opportunities to engage with our customers at one of Australia’s most pre-eminent events,” she said.
“As Australia’s leading institutional bank, we are looking forward to welcoming our customers and partners back to the Australian Open.”
Cedric Cornelis, Tennis Australia’s chief commercial officer, said the partnership with ANZ never technically ended.
“Both organisations see the partnership as being a great fit and recognise the significant benefits it brings,” he said.
The Hot Shots program would continue, and the organisation was “continuously speaking with different brands about their interest to be involved with the Australian Open and to support grassroots tennis”, Mr Cornelis added.
Over the last give years, ANZ reportedly paid $1 million to fund 200,000 tennis racquets for primary school children.
