Loss of Revenue Taking Its Toll on Sports Clubs
It has been an horrendous time for many people involved in the sporting industry over the last year, and the pandemic that we have all had to endure in one way or another has taken its toll on all of us, there is no doubt about that.
Sports clubs much like all other businesses have been suffering, and even those associated with the sporting history such as some of the best sports betting sites in the UK that have always been able to weather all manner of different storms so to speak, according to the Top10SportsBettingSites.net author Adrian Sterne have also been suffering too.
The long awaited end to lockdowns may soon be upon us, but it is true to say we are all worried whether they will go as planned or if there is trouble ahead, but we should of course keep the faith and hope things start to get back to some form of normality soon.
Whether the sporting industry as a whole is going to look anything like it once did though is debatable, for when we do come out of lockdown and the pandemic is behind us, there are going to be many sports clubs that will not be around anymore, and sadly that will be through no fault of their own.
Lack of Sponsors and Advertisers
Another thing that has not gone unnoticed, is that due to many businesses around the globe have started to make some massive cutbacks, and that in turn has led to many businesses deciding that they have no other option but to cease all sports related advertising they do, and that has caused shockwaves through the entire sporting industry.
Many one time sponsors of sporting events and sports clubs have also had no other choice but to cut ties with the events and clubs that they once sponsored, which sadly means those sports clubs that are already experiencing a massive drop in their income levels have seen them drop either further.
Unless things change and for the better and quickly too, those income streams many sports clubs once enjoyed will not be replaced, which is rather worrying. Whether any businesses that have prospered during the pandemic, and there have of course been plenty of them that have are willing to step in and start advertising with or sponsoring sports clubs’ things do look bleak for the future.
Football Clubs Turn to Government Backed Loans
There have been serval Government schemes launched that have helped many business owners keep the lights on and pay their bills over the last year, and one that has been taken up by many sports clubs was the Bounce Back Loan scheme.
Many smaller sports clubs have taken advantage of that scheme by borrowing up to £50,000, which due to the way the scheme has been designed is such that no repayments are due for 12 months from payout of that loan and has a fixed interest rate of just 2.5%.
Some other schemes have enabled larger businesses to borrow even more cash, however at the end of the day they are loans and not grants, and will soon need to start being paid back, and that is something that many sports clubs are worrying about.
It does also look like some additional Government backed loan schemes are being launched soon, however they are going to be designed in such a way the interest rates will be higher and the question does need to be asked, that being will sports clubs be prepared to take on even more debt moving forward.
Attend a Live Sport Event Soon
As a fan of any team, you really do need to try your best to help that team survive, and one of the easiest ways you can throw your support around them is by booking tickets to attend any upcoming sporting events they are holding, once lockdowns end.
That small expense you will make on the cost of the tickets to attend that even could make all the difference between the survival of that team or their closure, in fact book tickets for your friends or family members