How badly has Covid-19 hit the sports industry?

From football to basketball, from the Olympics to Euro 2020, all these events have either been cancelled or postponed. Take a look at the toll the global sports industry has been facing so far.
#Coronavirus #football #Tokyo2020Olympic Games

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[HAPPINESS]

I hope who reads this be successful one day🇯🇵

[cav]

Sports are over. A thing of the past. They will have to demolish all these stadiums.

[shadownine]

No more teamwork, it's all about individual glory from now on

[liviu-cristianbadescu]

Im standing at the Fenerbahce stadium all alone, It normally hosts more than 50 thousands people on a game dyad now its empty, All the matches are either postponed or cancelled like they are all around the world, In previous crises the sport industry has always been considered “crisis-proof”, Its never really been affected other than times of war, But now the industry is facing major challenges in every way, Athlètes, sporting slubs, broadcasters, franchise, They’ve all been falling victim to the virus, one bye one.
WE’re talking about a 160$ billion industry worldwide, And there’s been an incalculable financial hit. When there are no games, there are no tickets sales, no broadcasts and no sponsorship deals. Meaning no income at all.Its estimated that Europe’s biggest five leagues are expected to lose around 5 billion euros in the scenario of matches getting cancelled until the end of the season, and also their stock values are decreasing too. Juventus lost 60% of its stock value, And also in Turkey, major clubs lost around 40-60% value.
Clubs around the world are negotiating to reduce their multi-million cash crunch, Wages at the top five European leagues of England, Italy, Spain, Germany and France total 9 billion euros, WHICH IS ABOUT 62% OF ALL CLUB REVENUES. FC Barcelona decided to give up 70% of their salaries including Lionel Messi. Also Cristiana Ronaldo who is on track to become the first footballer to earn 1billion dollars is given up an essential part of his income. Germany’s Borussia Dortmund announced its players waived a double digit million worth of their salaries and the club has reserved its stadium to trot Covid-19 patients. The Premier League is in talks to push players for 30% wage cut. FIFA announced plans to extend player contracts until the end of delayed domestic seasons and change the dates of the transfer season. Meanwhile the Belgian League abandoned the season and proclaimed Club Brugge as champions. And there’s more, the most anticipated flagship events of this year like the Tokyo 2020 Olympic Games, Euro 2020 and Copa America have been postponed until next year. Wimbledon was cancelled for the first time since the 2nd World War, while the Formula One motor racing series is on the verge of total cancellation. These are a big setback for broadcasters, as well as for leagues.
The biggest financial danger for the NBA for example is lost revenue from its TV contracts. The NBA makes almost half of its 9 billion dollars revenue from media fees, and its expected to lose 450 million dollars from gate revenu. But at the same time companies who own the broadcasting rights lose hundreds of millions of dollars in advertising revenues. Disney, which owns ESPN and Ar&T’S Warner Media paid 24 billion dollars for the rights to air NBA games until the 2024-25 season. It’s estimated that if the season remained suspended through to the playoffs in April they will be losing their total ad revenue for this year. The Olympis Games was supposed to be the most heavily sponsored sport event overhand now Japan faces an estimate of 6 billion dollars in losses due to the delay, They are hoping that the games won’t be completely cancelled next year because that would mean the pandemic would still not be under control a human and economic catastrophe. And industry wide, the impact could last longer.There is no doubt that the challenges the sports industry is facing are going to be longterm. Seeing players back in on the field and fans at their seats will be one of the signs that things are getting back to normal, but for now nobody has any idea when that could happen

[muhammadshahinurrahman]

Sports is considered to be a another lethal phenomena to divert the young Gen those who can do effectively contribute to prosper its nation. But, its a multi-billon booming business and very time killing factor.

[furryronaldosenpai]

O mundo paga um alto preço por se ter historicamente, preferido Pão e Circo, desde o período do coliseu de Roma, aos dias atuais, onde se aumentou o número de Arenas para Copa do Mundo, em todo planeta! É o Pão e Circo de cada dia!

[islamcompletefavourfromall]

There's only one God who manages everything to him we belong and to him we shall return

[ganeshshankarmishra]

Congratulations with Best wishes you all God blessing 💥🚩💕