Aufsatz in Buch
The Financial Impact: Will Professional Soccer Return to its Market Value After the COVID-19 Crisis? Insights and Results from an Empirical Study
The COVID-19 pandemic in 2020 has impacted many industries such as the professional sports business. Almost all professional sports leagues, events, and championships have been either postponed or canceled. This chapter investigates the challenges of reduced revenue streams due to empty venues and canceled broadcasts on TV and on the internet. Also, the effects on the related merchandising business are addressed. Based on a theoretical analysis and an empirical study, the chapter highlights these direct impacts and sheds light on the indirect effects as well. As the pandemic disconnects sports enthusiasts to a certain extent from the team and/or athletes of their choice, certain behavioral aspects could appear. The results of the study underline that the financial effects in the short-term could almost be balanced; the medium- to long-term effects, however, will decrease the market value and threaten the business model of professional sports.