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 pandemic and lockdowns hit.
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.
According to the Forbes article, “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.”
The one thing they don’t mention is the teams’ adoration of the communist Black Lives Matter and their hatred of the police. They also ignore the NBA’s support for Chinese Communists over their own country.
Once the dust settles, we’ll see how it goes.
Even with the return of the NHL and NBA in their “bubbles,” MLB’s shortened season and months of mostly fan-free NFL Sundays, the revenue losses for the NCAA and the four major U.S. sports leagues have now hit at least $14.1 billion so far, according to Forbes estimates pic.twitter.com/w6ajKr9IYG
— Forbes (@Forbes) March 6, 2021
You can comment on the article after the ads and subscribe to the Daily Newsletter here if you would like a quick view of the articles of the day and any late news:
Hope this continues.
Bwahaha! I love a feel good story.
I admit to watching one play in the stupor bowl while heading out for a heel and toe.
It was the first one since the Colon Krapernick kneeling hysteria.
Does he kneel for the sweatshop women laborers who make his lavish lifestyle possible?
That won’t last very much longer as New Balance and other brand names sales are through the roof and they are able to mark up prices due to demand.
BTW-the late enemedia newz showed some basketball game highlights with cardboard cutout fans and it was a wert de ferk through the looking glass moment.
I agree with you. It is getting tiresome hearing millionaire players calling the majority of their fans “racist”.