2020, The Year With Major Financial Losses For Sports Leagues

The year 2020 will always be remembered for the financial impact that COVID-19 had on the world, sports leagues were no exception.

The sports industry saw unprecedented downs throughout 2020.

A calendar full of sporting events, including the Summer Olympic Games, were quickly erased as the COVID-19 pandemic spread across the globe.

That unprecedented turn of events led to massive losses:

• The NFL could lose $2.7 billion in revenue this season due to lessened or no fans.
• MLB lost $5.2 billion when it reduced its season to 60 games.
• The NBA missed revenue projections by roughly $1.5 billion after finishing its season in a fan-less bubble.
• NHL revenue dropped 14% from roughly $4.5 billion, another bubble casualty.
• The remainder of the 2020 AHL season was cancelled and the league may not return in 2021.
• MiLB had their season cancelled and many teams will no longer be returning as MLB affiliate.
• MLS and its clubs lost over $1 billion in revenue.
• The NCAA basketball tournament was cancelled which led to many schools having to cut multiple sports programs.
• The XFL shutdown and was later sold.