The ongoing COVID-19 pandemic is affecting every aspect of society around the world, notably in the realm of sports competitions. With delays or downright cancellations being announced at every turn, the global sports industry has definitely seen better days. As a matter of fact, with the postponement of the 2020 Olympic Games in Tokyo, the world of professional athleticism hasn’t experienced such disturbances since World War 2!
During these challenging times, the multi-billion dollar football (soccer) industry is also suffering the consequences of this global pandemic. Following recommendations from the World Health Organization and FIFA, the anticipated 2020 European Championships (UEFA) and other games are officially being postponed until next year. This has not only caused anger and disappointment from loyal fans, but has also engendered concrete economic and financial repercussions for players, clubs, sponsors, and media networks. In the following guide, we’ll take a closer look at how COVID-19 has brought the world of professional football to a grinding halt.
Competitions
Football is undoubtedly the most popular sport worldwide. Every season, hundreds of millions of supporters gather to cheer for their local teams. However, once governments declared lockdowns, travel restrictions, and banned large gatherings, the stadiums have become ghost towns. It goes without saying that having thousands of people in the same place presents major health risks and could facilitate the spread of the virus.
As such, most local and international tournaments around the world have been either canceled until the next season, postponed, or are being held in closed quarters. As of today, there are still many unanswered questions.
Athletes
Local and elite football talents alike plan their entire seasons around key events, such as the national or continental cup. Now, with the inability to perform in front of large audiences, a good majority of athletes are self-isolating and can no longer practice. You’ll often see football stars sharing posts of their time in quarantine on social media for the greatest pleasure of their followers. In any case, as an avid fan, you’re bound to find a website to keep up with the news of international football, league results, standings, and much more. As the world is slowly easing lockdown restrictions, a trusted source to follow the latest sports news will surely come in handy.
Clubs
The COVID-19 outbreak hasn’t made things any easier for clubs and their managers, either. Much like the rest of the economy, the football industry is seeing major wage cuts and layoffs even among the most iconic clubs, such as Bayern Munich, Barcelona, and Sporting Clube de Portugal. This was all done in an attempt to ensure the clubs’ financial viability. However, not all teams have been affected in the same way, seeing as some clubs have wealthy patrons and owners who can afford to support them even throughout the toughest of circumstances.
Sponsors
One of the main reasons why football has been generating so much revenue over the last 20 years has to do with publicity and sponsors. In fact, companies pay billions of dollars on a yearly basis to form official partnerships with clubs, advertise their products and brand, and boost their visibility. With the coronavirus situation, this all seems like a distant memory; matches are no longer taking place normally, which means these eager brands don’t have ample opportunities to market their products or services and create consumer engagement. So far, the losses are estimated in the billions of dollars for advertisers.
Media Networks
Television networks and private cable channels pay tremendous amounts for the right to broadcast football live matches. Each of these license fees is negotiated in millions of dollars and often paid well in advance of the event. This goes for football as well as a number of other disciplines, such as basketball or baseball. As such, these networks potentially stand to lose a lot of money in light of the uncertainty brought about by COVID-19. Since it’s still unclear if some matches or championships will actually take place, media people are still waiting to see how the global situation evolves and whether they’ll be eligible for full refunds.
It’s fair to say that the coronavirus crisis has taken the world by surprise. The suspension of athletic competitions at all levels around the world is another grave consequence of this health crisis; both athletes and supporters are staying home waiting for the storm to pass. Nevertheless, as the pandemic is slowly but steadily being contained, many sports experts believe things will return to normal before the end of this year.
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