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
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