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November 30, 2020
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Tzvi Odzer Discusses Struggling Sports Market Showcase the Impact of Covid-19

Tzvi Odzer and his success in the business field has been fueled by a love of competition best shown in his athletic drive. Over the years, he has become almost as known for his sporting success as his business capabilities. Unfortunately, he has watched the spread of Covid-19 into the sporting arena and is worried about how professional sports may be affected. Though these leagues may seem too big to fail, Tzvi Odzer is concerned that lengthy droughts of playing may put them in jeopardy. 

Limitations Placed on Sports 

As Covid-19 began spreading rapidly, Tzvi Odzer noted that many sports organizations were going to be impacted heavily. And he was right: the new XFL league folded after a promising start, costing millions of dollars to investors. Beyond these types of associations, though, Tzvi Odzer also believed that well-established leagues were going to suffer some difficulties. 

Unfortunately, this has been the case. The NBA was forced to cancel the season after several players tested positive for the disease. Such cancellations are not cheap: Tzvi Odzer estimated several million dollars of revenue would disappear for the league, including game ticket sales and, most importantly, broadcast revenue. And he was, unfortunately, right and the league has suffered as Tzvi Odzer predicted

As Covid-19 spread and became more present, and the idea of playing in empty arenas became a potential reality, the baseball season was pushed back further. Players and owners could not come to an agreement, which Tzvi Odzer had predicted, as players did not want to participate in profit sharing and wanted their contracts honored. As a result, nobody is sure if there will even be a season. And sadly, professional sports were not the only issue here, either. 

How Other Sports Have Been Affected 

On social media, Tzvi Odzer noticed dozens of his followers lamenting that their child’s senior sports year was gone. Basketball championships, baseball seasons, and much more were all canceled. For promising teams aiming for a state championship, this was heartbreaking. And costly – Tzvi Odzer notes that many schools get large amounts of money hosting winning teams. 

So while the number of new infections has declined and sporting events have been opened up a little, Tzvi Odzer notes that the kind of profit needed to keep high school, collegiate, and professional sports lucrative may be disappearing. That effect is indicative, he believes, of the types of struggles that are going to be occurring throughout this pandemic. 

What upsets Tzvi Odzer and others most of all, though, is that there isn’t much of a solution to this problem. Playing in empty stadiums would at least get teams money for broadcasts. However, the logistics here would be a nightmare, Tzvi Odzer believes. And as the pandemic stretches on, the problem may become direr and require bailouts to prevent bankruptcies.

The post Tzvi Odzer Discusses Struggling Sports Market Showcase the Impact of Covid-19 appeared first on Tzvi Odzer.

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