Something About the U.S. Open Doesn’t Add Up

Ms. Sarin, a contributing Opinion writer, is a professor at Yale Law School who was an official in the Biden Treasury Department.

The U.S. Open, the most lucrative tennis tournament on the planet, is having a moment. Last year, Queen Latifah, Ben Stiller and Bruce Springsteen joined over one million fans who attended in person, up more than 30 percent from the tournament’s prepandemic high. This year’s proceedings look to be at least as jam-packed.

Profits are way up, too. Between 2019 and 2024, the last year for which figures are available, operating........

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