It has been a difficult year for the world of professional sports.
Forbes reports that professional sports leagues here in America lost around $14 billion in revenue over the past year.
The financial loses appear to have been incurred by every aspect of the sports’ world, from the leagues themselves to the teams and players.
The losses suffered by the professional sports leagues have been detailed by various outlets, including Breitbart.
The outlet has reported that Major League Baseball (MLB) lost $5.2 billion, Major League Soccer (MLS) lost about $1 billion, the National Hockey league (NHL) lost over $600 million, the National Football League (NFL) lost almost $3 billion, and the National Basketball Association (NBA) missed it heavily reduced $1.5 billion projection.
The Forbes article touches more upon the financial losses of the various leagues’ teams and players.
The outlet reports, for example, that, on average, the value of NHL franchises dropped by 2 percent. NBA franchises rose by 4 percent, on average, which the outlet reports as “the smallest increase since 2010.”
Forbes also gave some examples of losses that the players themselves experienced, such as the NBA’s Chris Paul, who lost around $6.8 million, or professional golf’s Phil Mickelson, who lost $11.6 million, or the MLB’s Clayton Kershaw, who lost $3.5 million.
It is believed that these financial losses are largely the result of the coronavirus. As a result of coronavirus, games and events were canceled, and when they resumed, they resumed either without in-person audiences or with reduced capacities. This, of course, took away revenue from ticket sales.
One would think that the sporting world would have been able to makeup such losses with an increase in television viewership, but that did not happen. In fact, viewership, in many cases, dropped.
Some believe that what also could have contributed to the sporting worlds’ difficult 2020 was the decision by many leagues to “go woke.” There is little doubt that some people did tune out as a result of such activism, but the extent to which people tuned out for this reason is unclear.
The various sporting leagues are hoping to make up for 2020’s financial losses in 2021, but there are already signs that this is not going to happen. The NBA All-Star game, for example, just took place, and according to Sport Media Watch, it “was down 24% in ratings and 18% in viewership from last year (4.1, 7.28M),” making it “the lowest rated and least-watched edition of the game.”