£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 ...