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Tag: Coronavirus

£740m ‘black hole’: UK sport bodies face financial meltdown
6May By Sports Tourism NewsNo Comments
Sports Business

£740m ‘black hole’: UK sport bodies face financial meltdown

Sport governing bodies in the United Kingdom are facing hundreds of millions of pounds in revenue losses from events and matches called off because of the Covid-19 pandemic. In a hearing on Tuesday industry bosses from football, cricket, rugby union, Olympic and Paralympic sports told the Digital, Culture, Media and Sport Select Committee (DCMS) of the financial crisis for UK sporting organisations.  The Daily Telegraph reports that sport’s “darkest hour” will see a £740m “black hole” in the budgets of governing bodies. While the BBC puts the figure at “almost £700m”.  According to the Telegraph UK sporting organisations are facing the following: £200m shortfall for English Football League clubs £107m losses for rugby union if England’s autumn internationals are cancelled £380m ...
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Covid-19 impact study: only 53% of sports events in 2020 will be held and industry to lose $61.6bn in revenue
26Apr By Sports Tourism NewsNo Comments
Events, Sports Business

Covid-19 impact study: only 53% of sports events in 2020 will be held and industry to lose $61.6bn in revenue

A study by international sports marketing firm Two Circles has predicted that only 53% of sports events in 2020 will now take place due to Covid-19. With the coronavirus pandemic forcing the cancellation or postponement of many events Two Circles also estimates that the interruption to live sports will see revenues drop from $135.3bn to $73.7bn - a $61.6bn deficit. Commenting on the study Gareth Balch, Two Circles CEO, said: “Sports properties are keen to return as soon as possible as the longer the sports calendar is on hiatus, the worse the financial impact will be. “However, sports should – and will – only return when it is deemed safe to do so, and with the support of all relevant government and medical authorities. Even hosting sports without crowds poses a complex challenge. “Com...
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Wimbledon cancelled: official statements from the All England Club 
1Apr By Sports Tourism NewsNo Comments
Events, Sports Business

Wimbledon cancelled: official statements from the All England Club 

The All England Club (AELTC) has confirmed that this year’s Wimbledon Championships are off.  London’s grand slam event has been cancelled due to the coronavirus crisis and tennis fans will have to wait until the summer of 2021 to watch the world’s best players compete on the grass courts in SW19.  The 134th Championships will instead be staged from 28 June to 11 July 2021. Official statements Ian Hewitt, AELTC chairman “This is a decision that we have not taken lightly, and we have done so with the highest regard for public health and the wellbeing of all those who come together to make Wimbledon happen.  “It has weighed heavily on our minds that the staging of The Championships has only been interrupted previously by World Wars but, following thorough and extensive consideration of al...
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Coronavirus: no Formula 1 fans will attend the 2020 Bahrain Grand Prix
8Mar By Sports Tourism NewsNo Comments
Sports Travel

Coronavirus: no Formula 1 fans will attend the 2020 Bahrain Grand Prix

Bahrain Grand Prix organisers have confirmed that the Formula 1 event from 20-22 March 2020 will be held behind closed doors because of the coronavirus outbreak.  While the Chinese GP in April was postponed, the Bahrain race, the second on the 2020 F1 calendar, will be open for participants only and will be televised.   In a statement published on Facebook, Bahrain GP officials said: “In consultation with our international partners and the Kingdom’s national health Taskforce, Bahrain has made the decision to hold this year’s Bahrain Grand Prix as a participants-only event.  “As an F1 host nation, balancing the welfare of supporters and race goers is a tremendous responsibility. Given the continued spread of Covid-19 globally, convening a major sporting event, which is open to the public...
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Coronavirus: IOC chief Bach urges athletes to prepare ‘full steam’ for Tokyo 2020 Olympic Games
3Mar By Sports Tourism NewsNo Comments
Sports Travel

Coronavirus: IOC chief Bach urges athletes to prepare ‘full steam’ for Tokyo 2020 Olympic Games

The International Olympic Committee (IOC) has urged athletes around the world to keep preparing for the Tokyo 2020 Olympic Games despite the coronavirus outbreak.  Japan’s capital city hosts the summer Olympics from 24 July to 9 August and the Paralympics from 25 August to 6 September.  Many major sporting events are under threat due to the spread of the virus and media reports have claimed that the games in Tokyo could be postponed or cancelled. But in a statement issued on 3 March, the IOC said: “The IOC executive board [EB] today expressed its full commitment to the success of the Olympic Games Tokyo 2020.  “The IOC EB heard a report on all the measures taken so far to address the coronavirus situation, which was followed by a comprehensive discussion. “A joint task force had alre...
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