[Reports] $12 Billion-Plus Worth Of Revenue Will Be Lost Due To Sports Suspensions

All major professional sports leagues in North America have been shut down for almost two months now because of the COVID-19 pandemic, and the industry is suffering historic financial losses.

According to a report from ESPN, there will "at least $12 billion in revenue" lost over the suspended sports leagues. Should the 2020 NFL and NCAA football seasons get canceled in the fall, that number will double, per the report.

ESPN did a specific breakdown of the potential financial losses, including over "$3.25 billion that fans would have spent on pro sports." More than $371 million in staff wages would also be lost, along with $2.2 billion in national television revenue and a minimum of $2.4 billion for "tourism related to youth sports."

There is no firm timetable on when the bulk of sports leagues (professional, minor and youth) will be cleared for returns. The current NHL, NBA and MLB campaigns are still suspended, but the NFL seems optimistic about starting out the 2020 season on schedule.

NCAA had to cancel its 2020 March Madness basketball and hockey tournaments. The PGA postponed the 2020 until November (the 12th to the 15th). The NBA and NHL were both a month away from the postseason before going on pause.

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The NBA and NHL are still looking to play out the rest of the 2019-20 season. Both leagues are looking at a handful of cities and venues that could safely put on the games, likely with no fans in attendance.

Major League Baseball was originally scheduled to take place on March 26, with all 30 teams in action. The league is exploring several options in order to start a reason - including divisional realignment for only 2020. They are also looking at a way to play out the season in the Phoenix area, where there are several suitable baseball facilities and venues.

Though MLB remains optimistic about a 2020 season, nothing has been set in stone yet. If nothing gets going by July, there's a good chance that fans will have to wait until September for sports to start up again, should the NFL season take place as scheduled.

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