Dear Andrew, thank you for your interesting post. As noted in your post, coronavirus has greatly
affected the football sector. Football was actually believed to be shock proof as noted in your post.
Most people thought football would not respond to business cycle shocks but the unexpected just
seems to have happened (Magowan & Roan, 2020). The corona virus has affected every aspect of
business across the globe due to continued quarantine and lockdown in most countries. Fans are not
allowed to attend football batches which have drained match day revenue since football resumed.
Footballers are among the best paid athletes and some football clubs are struggling to meet their huge
salaries with little or no revenues coming in. the billionaire owners run other businesses to support their
spending on football and these businesses have been hit fast and hard. The oil market, for instance, has
collapsed (Blakemore, 2020). At one point, the price of one barrel of oil dropped below the zero level
leaving oil producers in shock.
Reference
Blakemore R. (March 3, 2020). Coronavirus and the oil price oil market. Retrieved from
https://www.atlanticcouncil.org/blogs/new-atlanticist/coronavirus-and-the-oil-market-the-effects-thus-
far-and-what-to-expect-next/
Magowan A. & Roan D. (March 10, 2020). coronavirus: Financial impact of measures on EFL
clubs could be 'devastating'. Rettieved from https://www.bbc.com/sport/football/51804544
