Everyone is keen to see sport return at all levels and credit should be given to all of those furiously working in the background to make this happen.
Yes, there are some who feel that the finishing of League competitions at this time should not happen. Others whose teams are in with a chance of winning a League obviously want to see an outcome on the pitch, as to win without playing is simply not the same.
If any professional competition that has started is actually completed in 2020, that will be an achievement in itself. However never lose sight of the fact that one of the reasons the completion is being pushed is financial. As we have seen in Australia TV Broadcasters are holding back money in the event that the competitions they are contracted and have paid to air are not completed. Hence the sport, which is heavily reliant on that money needs to complete the competition.
The same is proving to be the case with sponsors.
In both of these areas the sporting landscape is going to change dramatically.
The F1 competition has always been an expensive sport for teams to compete in. Therefore sponsorship deals are worth millions. One of the reasons that the sport has been able to command those fees is the exposure that the sport gives its sponsors. The motorsport fan is extremely loyal to their sport; as are many other fans of other sports. The F1 Tour also sees the sport taken to many corners of the world, which therefore gives their product a global appeal which in turn is strongly supported by the television audiences which again are truly global.
The Covid-19 Pandemic has not just affected sporting bodies and clubs. It has had a huge impact on many of the companies that sponsor sport.
Therefore the withdrawal of Rockit’s sponsorship of the F1 Williams team has been not only a body blow to the Williams team, but to the sport. It has been reported that the telecommunications company owe Williams a significant amount, said to be around £10m for the period up until the end of 2019.
Deputy Team Principal Claire Williams has confirmed to their fans and the media that the team are fully funded “throughout the remainder of this year to continue racing as and when we can go back to the circuit.”
The financial predicament Williams finds itself in has alarmed many, as they are after all the second most successful team in F1, in terms of constructors’ championships won. It would therefore be unthinkable for the Williams team to no longer compete in F1. Williams have admitted that they need investment. They have said that they will talk to anyone in relation to finding investment from a sponsor, to a minority stake or a majority stake even if that means that the Williams name had to disappear from F1.
This is sadly going to most likely be the case in many sports. Some teams are probably going to fall by the wayside. For some teams in some sports, and regrettably for their fans, this is inevitable due to the fact that their management has for too long been living beyond their means to try and keep up with the ‘big boys.’ Now when they really need the money it is simply not going to be there.
The wages of players, and administrators will be lowered as there simply will not be the money to pay the salaries that everyone was enjoying in the pre-covid 19 era. To some that will be a good thing as it may ‘normalise’ sport.
The big question is will the quality of the sport we all love to watch be compromised?
Or will it be a case of quality over quantity. Will the quality of the various competitions actually go up a notch, as the cream will rise to the top in a smaller pool? There will be less reward for mediocrity, and those below the new expected standard. However the competition in the those second tier competitions is likely to be fiercer than ever as they will be competing to make the leap to the next level.
In some countries we have seen Governments step in with the offer of funding which is to be applauded at local club level.
At professional level one has to say to those clubs that opted to float on the stock market, if you need more money then go to your shareholders. Is that not why they invest in your company, because they believe in it, and its ability to make money? So in times of need they should be only too willing to help out, as they will reap the rewards in the future.
Where many concerns lie for fans are when their club is owned by an individual. If these individual’s businesses have been hit by the Covid-19 Pandemic, can they afford to stay involved? Some have relied on the support of key sponsors, and as has been reported many of these are also feeling the pinch or in financial trouble themselves. So that support may no longer be there. Their focus will no doubt be on keeping their companies operating and their staff employed, luxuries such as corporate boxes and sponsorships will have to go on hold.
There are likely to be many fans whose hearts will be broken in the next six months. There will be many who will regrettably lose their jobs, some already have, and our thoughts are with all of them.
Hopefully if many of these clubs and sporting bodies are truly being run as a business they will have a plan to get through this and will survive and who knows come out the stronger for it. One thing is for sure though there are some tough times ahead. If a sport like F1 and the established and successful teams within the competition are in trouble, then many others in other sports will be too.
