Posted on 03/09/2021 6:01:29 PM PST by SeekAndFind
Pro sports lost an incredible amount of money last year, with each league losing revenue in every area from fan support to sponsorship.
According to Forbes, to date, the pro sports leagues have lost a combined $14.1 billion since the world ground to a halt just over a year ago.
Not only did the leagues lose billions of dollars in revenue, but the teams themselves also lost a percentage of what they are worth, the magazine added.
“Even the value of sports teams, one of the most reliable long-term investments for billionaires, began to creak from the strain. NHL franchise values fell 2% on average, according to a Forbes analysis published in December, the first drop in two decades. NBA values rose just 4% on average, the smallest increase since 2010,” Forbes wrote.
Unsurprisingly, the players also took a hit to their wallets. Forbes also noted that total earnings for the nation’s highest-paid athletes fell for the first time since 2016.
The magazine found that some of the top earners lost millions over what they earned in 2019. Boxer Canelo Alvarez’s earnings are down $57 million. Baseball’s Clayton Kershaw lost $3.5 million. Basketball players Chris Paul and Joel Embiid lost $6.8 million and $4.9 million respectively. And golf great Phil Michelson lost $11.6 million over 2019.
Of course, one of the biggest losses that pro sports suffered in 2020 was the loss of ticket sales as games were canceled and stadiums either banned the fans or only opened at far reduced capacities.
(Excerpt) Read more at breitbart.com ...
AWWWWWWWW, only $14 Billion?
One would hope the fans would put that time, energy and money into supporting President Trump and the restoration of the Republic.
Players will get even more.
Even with lower ratings, the NFL is asking for double the contract value with the networks. So far only ESPN is saying that they won’t do it ...
If they don’t like losing money they respect the flag and country.
These entitled, ungrateful, A-holes make more in one season than I’ll make in my entire life, and they have the nerve to bitch about inequity and unfairness?
I’ll never, ever watch pro sports again!
Let’s beat that number this year.
And those with $10 billion now only have 4 or 5 billion?
And we are supposed to care?
Apparently Jerruh still has enough money to pay top dollar for mediocre quarterbacks.
I’d rather watch EuroLeague basketball and the KHL hockey than the NBA and NHL.
Neanderthal entertainment.
The silver lining to the lockdowns
This is what happens when lies and harm are laid on to every race except one that can’t support the bottom line for pro sports with a population of 14%. You reap what you sow.
wy69
Take a knee, no money for thee.
I watch my local High School football team. No kneeling, and they play their hearts out, because most of them know they won’t be playing professionally for a living.
Players are going to complain to team owners about loses.
Team owners are going to complain to cities and states about loses.
States are going to complain to the federal government about loses.
The federal government will make them whole by printing more counterfeit money.
I’m still big into pro cycling.
...and also a big fan of pro bowling.
Leftism destroys everything it gets its tentacles into.
There are no exceptions.
As a former pro sports enthusiast, that is a Sports-GoBroka-Athon that I can get down with.
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