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 ...
Get woke, go broke.
I am praying its 10 bilion loss in 2021.
Let them all burn to the ground.
Could care less,,
* Major League Baseball also lost $5.2 billion in 2020. Baseball’s loss comes is the Big Leagues became the last major U.S. sport to become woke by joining the extreme progressive movement with constant paeans to Black Lives Matter and so-called social justice causes.
* U.S. Open, lost 56 percent of its viewers over 2019.
* The NBA finals were down 49 percent over last year. National Basketball Association missed its severely lowered revenue projections by $1.5 billion.
* The worst of all was Hockey’s Stanley Cup. The NHL’s big game lost a whopping sixty percent over the 2019 championship series.
Get woke, go broke
Go woke, go broke.
I would have hoped, because of their SJW-Thought Control crap, that it would have been 10-tomes that amount...
I hope they lose all the billions they have left.
Ignoring TV ratings here, NBA and NHL team a have been unable to sell tickets, with a few exceptions here and there in a extremely limited capacity. MLB teams will open 2021 season with up to 30% capacity. No wonder they’re losing billions.
So?
tomes ==> times
Not enough.
The spoiled players are still employed.
I’m done with all pro sports.
That’s a shame.
At least they got more woke.
Good. I don’t need a bunch of spoiled brats lecturing me how horrible America is while they make million.
Really breaks my heart, I tell you. Well, dang, I guess there is crying in baseball after all! :) Haa Ha!
That’s a lot of other activities that are being funded.
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