COVID-19’s effects are still being felt, halfway through 2021. The sporting world was rocked by the pandemic and a recent report highlights how even the most elite clubs of Europe were not immune from the pandemic’s negative effects. According to data presented by Safe Betting Sites USA, top European Clubs will lose an estimated €7.2B-€8.1B as a result of the COVID-19 pandemic.
Loss From COVID-19 Could Range From €7B – €8B
A comprehensive report by the Union of European Football Associations (UEFA) shows the extent of the potential financial impact of COVID-19 on Europe’s football landscape. Projections made take into account over 700 top division clubs’ financial performance from FY2019 to FY2020 as well as variables presented by the pandemic.
According to projections, the total impact of the COVID-19 pandemic on top European clubs in FY 2019 and FY 2020 is €7.2B at the lower range projection, and €8.1B at the upper range projection. A more specific figure is dependent on the willingness of fans to return to stadiums which has a direct effect on potential sponsorship deals and gate receipts.
Loss In Gate Receipts Accounts For Largest Share Of Financial Impact
The estimated potential loss from the pandemic can be broken down into three main revenue streams; Gate Receipts, Sponsorships, and Broadcast. Gate receipts had the biggest share of the estimated total impact of COVID-19 with an estimated lower range loss of €3.6B – 50% of the estimated total impact of the pandemic. Upper range estimates have the loss at €4B, should fans show hesitancy in returning to stadiums.
Loss from sponsorships and commercial activities hold the next largest share with an estimated lower range negative impact of €2.4B while upper range estimates are at €2.7B. The impact on the broadcast revenue stream affected by renegotiated TV deals due to match cancellations and the rescheduling of large parts of the fixture list is at an estimated €1.2B-€1.4B.
Rex Pascual, Sports editor at Safe Betting Sites USA, commented:
“European football is worth billions of Euros and the impact of the pandemic was catastrophic for some of Europe’s smaller clubs. It remains to be seen which of the projected impact ranges the final total loss from COVID will lie closer to with conditions still varying greatly in different parts of Europe in the middle of 2021, and the willingness of fans to return to stadiums still a massive variable.”Fastest Paying Betting Site in Nigeria: Grab your 140% First Time Deposit Bonus Now — www.Sportybet.Com Copyright © 2021 Completesports.com All rights reserved. The information contained in Completesports.com may not be published, broadcast, rewritten, or redistributed without the prior written authority of Completesports.com.