Things are looking bad for the sporting industry according to expert Adrian Sterne from top10sportsbettingsites.net. He recently stated that many of the top sports betting sites that once have sponsored many sporting events around the world are not going to be allowed to do so moving forward.
With many other business owners who were also onetime sponsors and/or advertisers of many sporting events and sports clubs now also massively cutting back on their spending, many sports clubs are going to face some huge drops in their income moving forward.
As to whether they are going to be able to replace the cash they lose from advertising and sponsorships from other sources, well there are not that many options available to many clubs other than increasing ticket prices to attend their events, which not many of them will dream of doing once the pandemic ends.
There are some other ways that sports clubs could raise revenue, such as launching pay to view events so their fans who no longer wish to visit and watch a sporting event in person can watch them on TV but pay for the privilege of doing so.
Would You Pay to Watch a Sporting Event On TV?
The one question that will need answering if pay to view is going to become mainstream, is whether fans of any team or club are going to be prepared to pay to watch those clubs or teams playing on television.
The one way that could become the norm will be if the actual cost of paying to view a sporting event is minimal, for having seen just how much some TV channels charge their customers to watch sporting events on television, those costs are way, way too high and that is something that will need to be addressed and addressed quickly if they are going to get the numbers to make it a financial success.
Getting the right mix of sporting events fans want to watch and Setting the actual cost to view those events sensibly is critical but is sadly something that is often overlooked, as greed often comes into play when it comes to pay for a view sporting events from those who are running them.
Large Uptake of Bounce Back Loans by Sports Clubs
Governments around the world did quickly step in to help small business owners during the pandemic, and they did so by offering payments to staff and even offered Government guaranteed loans to small business owners so they could at least have a quick injection of cash.
However, it was the case that with the never-ending lockdowns many business owners had to use those loans just to survive and in the case of bounce Back Loans were never in a position that would allow to them bounce back or try to bounce back over the last year.
Quite a number of sports clubs took out Government backed loans to help them stay in business, however much like those business owners in many other yet different market sectors, they have suffered financially and will struggle to pay back those loans.
As to just what the Government has offered those business and sports clubs that took out their first tranche of loans, well in April of this year they are going to be launching another loan scheme, but the terms of that new scheme will not be as favourable as their original loans and many sports clubs, in particular, do not want even more debt.
Supporters Need to Help Their Favourite Team
It often is the case that when it comes to the survival of any team or sports club of any type, it is the fans and supporters of them that will ultimately determine their future, and it is right now and moving forward each team you are a fan of really does need your help if they survive.
As such, when we finally all get the green light to attend sporting events in the way we once used to do, then it is your turn to step up to the mark and do your little bit for your favourite team, and that will of course be making a concerted effort to attend as many events as possible in the weeks and months ahead.