The pandemic has led to the absolute financial downturn of many institutions. These institutions were mainly those which sponsored high stakes sports events. AS advertisement and marketing are generally an essential need but due to thee rise of the pandemic most companies have resorted to more low-cost budget friendly methods of advertisement. The question arises, will there be enough sponsors to cover for larger sports events around the globe in the coming year or will we have to cancel sports events altogether due to the rise of the pandemic and the security concerns it shows. enough sponsors for sports due to the Pandemic.
The pandemic is not showing any signs of slowing down. People are getting infected daily and sports events have been delayed and postponed to an unforeseeable grim future. However, most have estimated and calculated that people in general cant stay in their homes and they require some form of entertainment.
Therefore, larger organizations such as the NBA and NFL have introduced quarantine bubble zones where players will come and play without an audience and everything will be streamed live on their televisions. This has led to a lot of outrage however as these events are considered as a communal and societal event and it is quite depressing for people to have to watch their favorite team play from home when they could easy go and get a ticket. This has led to a lot of debate in the community regarding the virus in general and whether its enough for sponsors to sponsors sports in the Pandemic.
Most sponsors agree that it will be unfeasible for them to get enough finances to sponsor larger sports events and will thus resort to smaller marketing and advertisement campaigns to fill the gap. This means that enough of a few large sponsors, institutions and sports organizations and teams will get cuts from much smaller companies with a much larger amount of them in order to support their expenses. This is a welcome model but due to the signs of the pandemic not slowing down any time soon, it is unclear if any team will be sponsored by companies in the first place.