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Story Melbourne Park is a sports venue in the Melbourne Sports and Entertainment Precinct in Melbourne, Victoria, Australia. Since 1988, Australian's bicentenary, Melbourne Park has been home of the Australian Open Grand Slam tennis tournament, which is played annually in January. The park has facilities capable of hosting basketball, netball, music concerts and other events. In the past Melbourne Park has hosted ice skating, cycling, international swimming and motorsport events.Melbourne Park is owned by Melbourne & Olympic Parks, which also runs the adjacent Melbourne Rectangular Stadium. The Yarra Park section of the Sports and Entertainment Precinct is run separately.HistoryMelbourne Park was built in 1988 beside the Jolimont Yard as a new precinct to host the Australian Open. The previous venue, Kooyong Lawn Tennis Club, had become too small for the burgeoning tournament. Melbourne Park's construction was completed in 1988 at a cost of at least $94 million. The unveiling of the new precinct was met with incredibly positive reviews by players and spectators, with some labelling the facilities and amenities the best of the four Grand Slams. Expansion of the precinct next occurred in 1996, when a further $23 million was invested to create two fully seated and larger show courts and eight new ‘Ace’ courts, as well as a large grassy space, now known as ‘Garden Square’.
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