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The COVID-19 effect continues to ripple through the world's health, educational, financial, and commercial institutions, and the sports ecosystem is no different. The non-stop sports entertainment has come to a halt. Losing a significant amount of revenues has affected sports and entertainment in the worst possible manner.
In the months to come, the world will start adapting to live a new normal life. But the sports industry will continue to be under stress. People will be wearing masks, gloves, and practising social distancing norms, even once the economy is fully opened. However, the question arises whether the sporting world will be able to cope with their operations post the pandemic period.
Arsenal, which recently delegated FA Cup champions, has planned to cut the position of 55 non-playing staff members due to the financial impact of the coronavirus pandemic. Arsenal has decided to make this move because its revenue has reduced to more than what the club had anticipated.
Earlier, in April 2020, Arsenal had reduced the salary of head coach Mikel Arteta. The Spaniard, along with the Gunner's first-team players, had taken 12.5 per cent salary cut. Also, Arsenal's executive staff agreed to give up more than a third of their salaries over the next 12 months.
The club has now decided to take some more measures to reduce the costs in the wake up lower than expected revenues from the season.
Impact of Covid-19 on Various Sports Events
Major international sports events have been rescheduled due to the catastrophe caused by the coronavirus pandemic.
