An overview of the impact of the COVID-19 pandemic on sports industry: Causes, implications, and options
The effects of COVID-19 are being felt throughout the world’s health, educational, financial, and commercial institutions, and the sports ecosystem is no exception. Matches and competitions are being cancelled or postponed, disrupting planning by governing bodies, organizers, teams and athletes — as well as non-stop live sports content we have come to expect. Owners, broadcasters, and sponsors are trying to navigate the impacts and implications of event cancellations and modifications. In a frenetic one-month period, countless sporting events — local, national or international — have been postponed at best or cancelled at worst. No sporting events were spared, even the Tokyo 2020 Olympic Games and the UEFA EURO 2020 have been postponed until 2021. The corona virus outbreak has left host cities in total disarray with no option but to revise their plans. More than 84% of host cities surveyed believe that COVID-19 has had a significant impact on all sports events planned for this year. However, when asked about the future, 58% think that the virus outbreak will only have a minor impact in 2021. In other words, host cities expect that things will soon get back to normal.
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