The coronavirus global pandemic has forced the countries to go in a lockdown. Economies around the world are facing the wrath of the lockdown. Sports which is considered one of the pillars, that brings money into the economy has been in stand still since last two months. Billions of dollars are at stake, the Wimbledon, Euru, NBA, IPL and Olympics have been postponed. The sporting industry will surely face the impact. But will sports remain same after the lockdown is lifted is the biggest question?
In the past few years we have seen a complete turnaround of sports. All the major league in the world is now a commercial entity. The success of a legue is measured in terms of money. The revenue expected from Euro 2020 was £2500 MN. This amount is more than many small economies. Tokyo Olympics which was one of the biggest sporting events of 2020 has also been postponed. Japan has invested lot nearly 1.35 trillion yen to bring Olympics into Tokyo and now due to lockdown, Japan will face a tough situation in the coming days.
ALSO READ:Coronavirus Threat On Tokyo Olympics
According to 2015 report, IPL(Indian Premier League) contributed nearly 11.5$ billion on GDP of Indian Economy. When the economies are at its worst stage, broadcaster will surely not put their own money to incurr the losses. The sponsorship the brands deal everything will be cut off.
One of the biggest worry is there will be no footfalls in the stadium. Even if the coronavirus is gone it’s impact will be seen for the next 2 years.
In Leagues such as Euro, Wimbledon, NBA and specially Olympics, people from all over the globe come together, and a huge part of revenue comes from the ticket price, and after the coronavirus pandemic the case will surely not be same. This can be a make or break situation for the broadcaster. So are we heading for something different, that is matches behind closed doors. From the commercialised product will sports again be what it was meant for.
These are tough times for sportsmen. Sportsmen are not accustomed to stay at home for a such long period without proper training and players may loose their match fitness. And moreover every sportsperson don’t earn in millions. The sporting industry is sure to hit hard seeing the global crisis and the world will witness some changes.