Sports & Corona Virus | Know How These 5 Governing Bodies Had Suffered Financially

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The Novel Coronavirus Pandemic all over the world has seen many games and tournaments being postponed and many athletes being kept in quarantine due to the fear of catching this deadly virus which has eaten up as many as 8000 lives till date. No games mean no sale of tickets. Now the problem is that, as a mass event business, sports cannot occur because of the risk of spreading the coronavirus. Canceling or postponing sports events makes a huge financial loss for athletes, teams, leagues, and organizations, and tens of thousands of people who work at sporting events.

Here is a look at how Coronavirus has affected some of the major sports governing bodies all over the world.

1. Olympic and Paralympics

The International Olympic Committee(IOC) remains fully committed to staging the Tokyo 2020 Games as scheduled this summer, despite Japan’s Olympic minister Seiko Hashimoto suggesting it could be postponed until later in the year.

The British Olympic Association still plans to send a delegation of around 55 people to Tokyo this month for a “detailed operational recce”.

The Greek leg of the Olympic Torch Relay was canceled the day after the first flame-lighting ceremony since 1984 to take place without spectators. The Olympic boxing qualifier in London was canceled having initially moved the tournament behind closed doors. The estimated loss for the World Olympic federation is 10 Billion US dollars.

2. Football

UEFA announced on Tuesday that Euro 2020 has been postponed until the summer of 2021, with new dates of June 11 to July 11 next year proposed. The official announcement from European football’s governing body also confirmed that the Euro 2020 play-offs, due to be played later this month, will now be played in the June 2020 international break.

The 2021 Nations League finals, UEFA Under-21 European Championships and the Women’s Euro 2021 were also postponed. If we only talk about German clubs, they stand to lose a combined estimate of around €750m ($833.4m).

3. Cricket

First of all, The most favorite domestic T20 league of the world, The Indian Premier League was postponed from March 29 to April 15 as a precautionary measure.

England’s Test series against Sri Lanka was postponed with the touring players returning home. The final two one-day internationals between India and South Africa will be rescheduled following an agreement between the countries’ governing bodies, while the remaining two ODIs between Australia and New Zealand were called off.

Australia Women’s limited-overs tour of South Africa, consisting of three ODIs and as many T20s and due to start on March 22, will again not take place.

Cricket South Africa has canceled all forms of cricket for the next 60 days. The Pakistan Super League announced on March 17 – the day the semi-finals were due to take place – that the competition had been postponed. If only we talk about IPL, the broadcasting agency “Star Sports” will lose about $2.55 Billion.

4. Basketball

The NBA season was suspended “until further notice” after Utah Jazz player Rudy Gobert tested positive for coronavirus. The Brooklyn Nets placed their entire extended staff under self-isolation after four players, including Kevin Durant, were diagnosed with Covid-19.

Basketball England canceled the remainder of its 2019/2020 season on March 17. The NBA itself has been estimated to suffer a near 4.5 billion loss due to media rights.

5. Boxing

Top Rank announced the postponement of its shows at Madison Square Garden on March 14 and 17. Belfast featherweight Michael Conlan’s bout against Colombian fighter Belmar Preciado at the Hulu Theater on St Patrick’s Day was therefore scrapped. All events scheduled for March in Japan are canceled.

The British Boxing Board of Control announced on Tuesday that “all public tournaments” under its jurisdiction have been canceled, and the position will be reviewed in early April. Matchroom Boxing postponed all of its events in March and April.

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