The coronavirus pandemic has hit the financial revenue of every sports league. As a result, it’s forcing organizations to think of ways to soften the blow that they’re enduring moneywise.
For example, the National Hockey League is dipping to advertising their divisions’ names and placing advertisement stickers on their helmets. Another league that’s thinking outside the box to survive is the post-coronavirus world is the Canadian Football League.
After canceling its entire 2020 season, the CFL needs not only a 2021 season but a business model that allows them to survive as a niche league. Earlier this month, rumors of a potential merger with the XFL began to surface. Both sides refused to comment on the matter.
Nonetheless, the Toronto Sun reports that Daniel Cohen, a senior vice-president of global media rights consulting for Octagon, states that cornering both the top markets in the United States and Canada is a powerful bargaining chip for a television deal.
Cohen adds that if both leagues were to merge, that they could easily ask for $100 million U.S. per year, whether it’s a combination of media and sponsorship rights. It will be interesting to see if staring at these dollar figures could entice both leagues to merge.
Eduardo Razo is the Assistant Content Editor for BNM, which includes writing daily news stories on the news media industry. He can be found on Twitter @eddierazo_ or you can reach him by email at eddie1991razo@gmail.com.
