Banning gambling brands from sport sponsorship
The fact that a new restriction of banning gambling brands from sports sponsorship in 2023 remains true. However, it is certain that football clubs will experience a hard time financially if this action were to happen in the future. It wasn’t long during the pandemic, as the popular England football club Swansea City broke their deal of sponsorship with a UK gambling commission.
Even if they turned out as the first club to take the hit by abiding by this rule, it won’t be much easy for them in the future. The report submitted in 2020 by sports parties and associates suggests the removal of gambling sponsorship in sports to prevent gambling harms. However, the effect of the ban will affect both sports and casino sites like https://casinoportugal.online/.
Effects of banning sports sponsorship
The review about banning sports sponsorship is still going on. But that doesn’t eradicate the harmful effects it would cause football clubs, once this rule is implemented in 2023. According to the view of Martim Nabeiro, who’s an expert in guest post topic here, it would affect almost all the clubs in the Premier League. More than half of the premier league clubs have gambling brands on their shirts.
Unlike other brand sponsors, the betting company has always been the biggest sponsor for sports clubs. The pandemic outbreak in the last few months has to lead to a decrease in the revenue of sports events, as fans are restricted from attending events. It didn’t only affect football clubs but other sports events like basketball, hockey, rugby, and tennis.
However, based on the opinion of professionals, even if the football clubs managed to pull off the effects of the pandemic. The banning of sports sponsorship will have a drastic effect on them. It’s true that big football clubs won’t have a lot of a hard time compared to smaller clubs that often depend on sponsorship funds. It won’t be surprising if the football clubs pleads for more time because of the Covid 19 in the past few months.
What can the football club do?
In the past, other companies have been banned from sponsorship, but they ended up utilizing another alternative to keep the business running. So, even though it might seem hard for football clubs when the gambling sponsor is banned in 2023, there’s also a promising chance of getting sponsored by other business sectors.
Most businesses will be willing to utilize the opportunity of the online casino industry getting banned, in offering sponsorship deals to football clubs. Think about it, for years sports sponsorships are mostly dominated by gambling companies. However, the ban can lead to other businesses taking over the spot. This will also give football clubs the opportunity to gain financial capability in the future.
For example, the tobacco companies in the past invested in different varieties of sports including the F1. Until they were banned in 2000 from sports sponsorship, which affected the formula 1 sports drastically. Everyone thought that’s the end of formula 1 sports due to financial issues. However, the sports industry managed to pull a stunt in attracting the attention of other business sectors.
They need to reposition their business to accept other sponsorship offers, as well as operating outside other countries. When it comes to gambling companies sponsoring football clubs, they are estimated to spend over $100 million dollars annually for the England premier league clubs. Considering this massive amount of money being generated from this source annually, looking for alternative sponsorship deals is necessary for keeping the business moving.
The banning of gambling brands from sports sponsorship will wreak unimaginable havoc in 2023 if football clubs don’t implement other alternatives. Whether the future will be beneficial for football clubs or not, it’s yet to be determined.