By Stefan Djordjevic/ info@eurohoops.net
The abrupt stoppage of basketball activities has already affected and will continue to hit the budgets of clubs around the world.
Bayern Munich GM Marko Pesic confirmed it and noted that counting only the regular season ticket revenue, it will already be a seven-figure financial hit.
“Every team in the Basketball Bundesliga and the EuroLeague are facing enormous challenges. The financial impacts of the coronavirus pandemic are also having a massive impact on us. In terms of ticketing revenue alone we’re looking at a seven-figure loss in revenue for this season, without including the BBL playoffs. We’re unable to say for sure how other areas may be affected. We’re hoping to be able to use the strong connections we’ve built with our community. Right now, it’s about determining our financial situation in order to ensure our future,” he said for the club’s official website.
However, despite that, the club will do what it can to stay stable and take care of everybody in the organization: “We may still be a part of FC Bayern, but we are also an independent company, which is responsible for its own sporting and commercial success. After analyzing the situation, we made the decision to furlough our employees using the ‘Kurzarbeit’ scheme. Our task is to secure not only our financial and sporting foundation but also jobs. We have nearly 50 employees working in our office. We’re obligated to act responsibly.”
A big help came from the players themselves as they agreed to waive 30% of their salaries: “We would like to thank the team, who have made a valuable contribution by waiving 30 percent of their salary. It gives us a chance of taking on this huge financial challenge ahead and also means we can compensate for any lost wages for our staff through the furloughing scheme. We would also like to thank our employees, including the managing board, who demonstrated collective solidarity and an understanding of the situation from the beginning. Everyone sees that it’s about pulling together. We hope that our fans and partners support this approach.”
As far as the German League season goes, he revealed that the majority of the clubs agreed to keep everything open for now and follow the development: “It remains clear that health comes first, nothing else. The majority of the clubs also support the league’s decision to not cancel the season prematurely if there is no need to. The potential financial consequences of doing so brought on by potential demands from the TV partners and sponsors were compelling arguments.”
Pesic believes there’s still a chance to finish the campaign this summer but it won’t be up to them: “At the moment, in mid-April, we still have a chance of playing in May or in June. If that will happen will be up to the politicians and experts to decide. We need to trust in them and I think that, given the way they’ve handled the crisis so far, our trust in them is not misplaced.”