Tennis Australia has secured a loan from the Victorian government to cover the ballooning cost of this summer's Australian Open in Melbourne, expected to blow out to more than $140 million when it begins three weeks late on February 8.

CEO Craig Tiley told The Australian Financial Review the organisation would exhaust its rainy day fund, which holds over $80 million, but was taking a concessionary loan from the government, supplemented by the private sector, to cover the $60 million shortfall.