Global Sport Industry: Coronavirus to cause serious financial and logistical implication
- Pages: 17
- Published: April 2020
- Report Code: MLCS0001-002
The escalation of the coronavirus across the globe has led to the widespread suspension of sporting events. Since officially declared as a pandemic on the 11th March by the World Health Organization (WHO) the virus has continued to slow industries and economies with cases in almost 200 countries. The global sport industry has been severely affected as the industry has effectively ground to a complete halt, which will bring financial ramifications.
– 2020 was billed as a big year for sport with major scheduled events such as the Olympic Games and the European Football Championships planned for the summer, these have now been pushed back to 2021 causing significant disruption. A return date is currently unknown with the situation changing daily, this has left the industry in limbo with organizers drafting potential solutions to complete current competition and reorganize future ones
– Tokyo 2020 was officially suspended to 2021 in the final week of March, but it will remain labelled as Tokyo 2020 for sponsorship and merchandising reasons. In a joint statement the organizers of the games, the International Olympic Committee and the Prime Minister of Japan stated that due to the present circumstances it has been concluded that the games “must be rescheduled to a date beyond 2020 but not later than summer 2021”. Having invested significantly in infrastructure and preparing for the games the Japanese government and other organizers will have to wait a year before they see the benefits of their planning.
– Football competitions across the world ground to a halt across the world during March causing widespread disruption and uncertainty. Following the suspension of Serie A, the Italian first division, on March 9th the virus has spread rapidly and other major footballing bodies have followed suit suspending their respective competitions. With a return to normal in the near future looking unlikely, completing current competitions and starting new ones is causing logistical and financial complications for organizers.
– Learn how the shutdown has effected the global sports industry
– See which industries have been damaged
– What might the sports industry do to get up and running again
– Are there any solutions to this shutdown
Reasons to buy
- Who has been worst effected?
- How might some competitions resume?
- Are there any temporary solutions?
- Is this a long term problem for the industry?
Table of Contents
2. SPORT PUT ON HOLD DUE TO COVID-19 OUTBREAK
2.1. Coronavirus to cause logistical and financial headaches across the industry
3. SUSPENSION OF TOKYO 2020 OLYMPICS TO CAUSE DISRUPTION
3.1. Japanese coronavirus situation remains muted but there has been limited testing
3.2. Measures are being taken to soften the financial impact on already struggling Japanese industries
3.3. Impact fairly modest given the big picture
4. IMPLICATIONS OF WIDESPREAD FOOTBALL DISRUPTION
4.1. Euro 2020 postponement to have logistical and financial ramifications
4.2. Potential for disputes between football associations
4.3. Pandemic will cause clubs at bottom of the food chain to suffer most
5. COVID-19 HAS HAD IMPACT ON US SPORTING CALENDAR
5.1. Coronavirus is growing rapidly in the United States andhighlighting healthcare system flaws
5.2. All major sports suspended which could have serious financial repercussions
6.1. Abbreviations and acronyms
6.3. Further reading
7. ASK THE ANALYST
8. ABOUT MARKETLINE
List of Figures
List of Figures
Figure 1: Tokyo 2020 Logos to remain despite postponement
Figure 2: Map of host cities for Euro 2020
Figure 3: Premier League television revenues for the 2018/19 season
Figure 4: NBA commissioner Adam Silver