Major U.S. Sports Leagues Lose $6.8B in Ticket Revenue

The COVID-19 pandemic has negatively impacted on various fields in the world, including sports. Many professional leagues worldwide have suspended their seasons while thousands of sports event have been cancelled amid the outbreak of the disease.

The United States, which is home to a wide range of sports leagues, has hurt by the COVID-19 pandemic as they have been organized without the spectators. It means that the organizers have not sold tickets, causing a drop in revenue.

SafeBettingSites.com showed that major sports leagues in the United States namely the Major League Baseball (MLB) and the National Basketball Association (NBA) could lose up to $6.8 billion in ticket revenue amid the COVID-19 outbreak.

1/MLB

The TicketIQ data predicted that the professional baseball league in the United States could lose $5.1 billion due to the drop in ticket sales amid the COVID-18 pandemic. It may be the most remarkable loss based on the market value of the tickets among all sports events that have been delayed or canceled in the United States.

Los Angeles Dodgers ranks first on the list of U.S. baseball clubs with a ticket revenue loss of an estimated $200.1 million. The Boston Red Sox comes second with a loss of $180.5 million this year, followed by New York Yankees with $177.8 million, St. Louis Cardinals with $153 million, Chicago Cubs with $146.7 million, and Washington Nationals with $109.3 million.

Besides, Los Angeles Angels, Houston Astros, Philadelphia Phillies, Milwaukee Brewers, and Washington Nationals are estimated to witness less than $100 million drop in the ticket revenue.

2/NBA

After over four months of suspension due to the COVID-19 outbreak, the NBA season restarted in Orlando Bubble in July. Despite the resumption, the games without the audiences are estimated to cause a loss of $1.7 billion this season.

LA Lakers tops the list of NBA clubs in terms of ticket profits drop with $82 million. New York Knicks comes second with a $46.1 million revenue loss, twice less than the LA Lakers. It is followed by the Golden State Warriors with $42.1 million, the Toronto Raptors with $32.9 million, Boston Celtics with $32.2 million, and LA Clippers with $31.9 million. Meanwhile, the Philadelphia 76ers witnesses the smallest drop in the ticket revenue among the NBA teams with $23.5 million this season.