Coronavirus outbreak: Tennis governing bodies to announce relief fund

Although the relief fund is aimed at providing assistance to players, no amount has been disclosed yet.

"It will provide much-needed assistance to the players who are particularly affected during this time of coronavirus crisis," the statement read.

"Already agreed is that the ATP and the WTA will administer the Player Relief Programme and all seven stakeholders will make a significant contribution," it added.

Earlier, Novak Djokovic reiterated that he is planning a relief fund to help tennis professionals, along with Roger Federer and Rafael Nadal.

Djokovic estimated the amount to be between $3 and $4.5 million, which will be distributed among the players.

According to his proposal, the scale of contribution may range from $30,000 (for top-five players) to $5,000 (for those between 51 and 100).

The ATP player council president Djokovic asserted that short-term solutions could benefit the players.

This could include transferring bonus money fetched by top players from marquee events like ATP Finals into the relief fund.

"If we don't have any events (in 2020), maybe next year's Australian Open prize money can be contributed to the fund," he stated.