Coronavirus has multi-billion dollar negative impact on global sport

Latest News

Coronavirus has multi-billion dollar negative impact on global sport

May 1, 2020

Sports agency Two Circles has reported that the global sports industry will face a US$61.6 billion drop in revenue this year, with around half of planned sporting events going ahead.

The agency, with offices in the USA, UK and Switzerland, reports that with so many events unable to be held due to the Coronavirus shutdowns, it will be September before many events are able to be held, whether behind closed doors or with spectators.

According to the agency’s sports attention index, there were 49,803 major sports events with a gate of more than 5,000 paying spectators expected to take place during 2020.

Of the 5,584 due to take place in March, only 1,870 went ahead as scheduled.

The revenue estimate is derived from cumulative revenues generated by rights holders through their event-day operations, as well as the sale of media and sponsorship rights, reports Two Circles.

Looking forward, Two Circles predicts that the sports economy will recover and flourish once again.

Image courtesy of Bankwest Stadium.

30th April 2020 - Federal Sports Minister warns that NRL’s return could be threatened by players’ breach of social distancing requirements

28th April 2020 - NRL announces 20-round season schedule with 25th October grand final

16th April 2020 - Extended Indian Coronavirus restrictions sees IPL indefinitely postponed

7th April 2020 - Coronavirus shutdown set to see cancellation of 2020 Indian Premier League

29th April 2020 - FFA prepares guidelines for the resumption of football

10th April 2020 - AFL faces up to post lockdown changes

21st April 2020 - Rugby Australia and players agree wage cuts

17th April 2020 - World Rugby announces US$100 million global relief package

27th April 2020 - New Zealand Sports Minister advises of permissible activities under eased Coronavirus Alert

24th April 2020 - Prime Minister Scott Morrison announces framework for return of sport

1st May 2020 - Australians undecided about whether sports competitions should return in 2020

21st April 2020 - Arts and sport set to be impacted by Virgin Australia’s administration

13th April 2020 - Federal sports minister says NRL restart plan is ‘a bit ambitious’

31st March 2020 - Chinese authorities maintain spectator ban for major sports leagues

20th March 2020 - ANZ Premiership shutdown marks end of all top-level sport in New Zealand

1st May 2020 - China looks to FIFA World Cup hosting with new football stadia

12th February 2020 - Coronavirus continues to impact China’s sports events

3rd May 2019 - Global sports sponsorship spending set to reach US$65 billion this year

Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.