
COVID-19: potential revenue loss for March Madness 2020
The COVID-19 pandemic at the beginning of 2020 hit the sports industry hard. Many leagues across the globe suspended their seasons, including the NCAA’s Division I men’s basketball tournament, also known as March Madness. This college basketball tournament is very lucrative for the NCAA and its potential complete cancellation could mean a loss of 933 million U.S. dollars in media rights, ticket sales and sponsorships. This figure is based on the revenue that these categories generated during the previous year's tournament.