Coronavirus (Covid-19) Pandemic Impact on Global Sports Industry

13 April 2020

The Coronavirus (Covid-19) pandemic at the beginning of 2020 hit the sports industry globally hard. Many professional leagues across the world suspended their seasons and numerous events were cancelled. As a result, there is a huge loss to the industry and to trade of sports goods. According to Export Genius trade data, total sports goods and equipment valued US$ 119.0 billion shipped in 2018 and US$ 124.5 billion imported around the world. Let’s have a look at estimated loss of revenue on various sporting events due to coronavirus outbreak.

According to analysis reports, the global sports market moves US$ 756 billion annually. This is the direct value moved by industry, in which the United States of America is responsible for US$ 420 billion and Europe for another US$ 250 billion.

China is the fastest growing market in global sport, makes about US$ 150 billion annually and projected its sports industry to reach revenues of US$ 350 billion over five years. However, the picture would be different in 2020 as all sports events have been either cancelled or postpones due to coronavirus pandemic.

Sport-wise Potential Revenue Loss due to Coronavirus (Covid-19) Pandemic

Sport	Event	Status	Potential Revenue Loss
Basketball	National Basketball Association 2020	Suspended	350 to 450 million U.S. dollars
Basketball	March Madness 2020	Cancelled	93 million U.S. dollars
Multiple Games	The Olympics	Cancelled	277 million U.S. dollars
Soccer	US Soccer	Cancelled	200 thousand U.S. dollars
Soccer	Euro 2020	Postponed	400 million euros
Soccer	European Football Leagues	Postponed	800 million euros
Formula 1	Formula 1 Group 2020	Cancelled	602 million U.S. dollars
Cricket	Indian Premier League 2020	Deferred until 15^th April 2020	INR 10,000 crore (if called off)
Other Sport	NCAA Events 2020	Cancelled	100 million U.S. dollars
Other Sport	NHL Events 2020	Suspended	1.31 million U.S. dollars
Other Sport	WWE 2020	Held without Fans	125.6 million U.S. dollars

Professional sport, although not the main source of revenue, is undoubtedly the one that most impacts the production chain, with its sponsorships, match-day revenues, players’ transfers, TV rights and its high media & employment character. And so obvious it’s indirect and induced impacts. Thus, a match with closed gates, the cancellation of competitions or calendar changes, directly impacts the entire sports industry due to Covid-19.

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