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RCB have roped in the Indian tennis legend as team mentor in the inaugural edition of the Women's Premier League.
Unseeded Bopanna and Sania lost 6-7(2) 2-6 to Brazilian pair of Luisa Stefani and Rafael Mataos in the final at Rod Laver Arena.
The unseeded Indian pair knocked out third seeds Desirae Krawczyk and Neal Skupski 7-6(5), 6-7(5), 10-6 in the semifinal that lasted one hour and 52 minutes.
The Indians progressed after Jelena Ostapenko and David Vega Hernandez pulled out of the mixed doubled quarterfinals.
The Indian pair defeated Japan's Makoto Ninomiya and Uruguay's Ariel Behar 6-4, 7-6(11-9).
N Sriram Balaji and Jeevan Nedunchezhiyan's were also halted by the French duo of Jeremy Chardy and Fabrice Martin in the second round of the men's doubles.
World No. 106 Shnaider made a habit of roaring in Sakkari's direction and throwing her icy stares, and it got too much for the Greek sixth seed at 5-5 in the second set at Margaret Court Arena.
The announcement landed amid speculation that Osaka, who is one of the highest-earning women athletes, according to Forbes, may have been scaling back on her professional playing career.
Her withdrawal comes a day after American seven-time Grand Slam champion Venus Williams was ruled out of the Australian Open due to injury.
Sania will compete alongside Kazakhstan's Anna Danilina at the Australian Open, which begins on January 16, before bidding farewell to the sport in the UAE.