Major U.S. Sports Leagues Lost over $14 Billion in 2020

Breitbart ^ | 03/09/2021 | WARNER TODD HUSTON

[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.

[OrangeHoof]

Forbes also noted that total earnings for the nation’s highest-paid athletes fell for the first time since 2016.

It's easy to figure out why they lost money in 2020, but why did earnings fall in 2016? No pandemic then.

[OrangeHoof]

Also taking a financial bath: our friends at Disney (ESPN), Fox (regional sports networks), Turner Sports (NBA package) and NBC (regional sports channels and NBC Sports channel which carries the NHL and has already announced it is folding at the end of the year) because when there’s no live sports, there’s no advertising revenue.

[ConservativeMind]

If they are still solvent, I’m not happy.

[ImJustAnotherOkie]

To Mohawk throwing and darts come to mind.

[mewzilla]

Amazon is funneling the NFL money.

Wanna bet the latest WuFlu “relief” bill has money in it that will end up going to bail out pro sports...

[ImJustAnotherOkie]

Tomohawk throwing and darts come to mind.

[T.B. Yoits]

The leagues need to lose all of their money. They're a business model that pushes propaganda from their Communist Chinese masters at the fans whom they hate. They conspire with governments to force taxpayer money to subsidize their operation. They have monopoly exemptions that no other business is allowed (except government of course).

Let them take their kneeling and lying over to Communist China.

[jeffersondem]

“Tell that to Dak Prescott.”

It is true; Dak lost money.

His talent would have fetched twice as much on the open market if not for the boycott I initiated.

[Jane Long]

;-)

👍🏻👍🏻

[PhineasSpear]

Thanks, ((( leftists ))), and your trained, brainwashed, black racist thugs, that jump thru hoops, and spew all the textbook anti-White propaganda at your commands!!!!

[Night Hides Not]

There’s no way IMO that Luka plays his entire career in Dallas. He wants to win a title, and that’s not going to happen in Dallas. They have not won a playoff series since 2011.