The news articles just keep on coming! Here are a few more recent ones:
- Poor Economy Starting to Shape Sports Landscape (New York Times, 11/14/08) – another smalled sporting event gets cancelled (Tour of Georgia cycling race) and NASCAR loses revenue while trying to cut their costs.
- Are the New Jersey Devils Stalling Their Creditors? (NJ.com, 11/16/08) – An NHL team is actually behind on their bills and may face actions from the city.
- NASCAR is about to face some tough times(FoxSports.com, 11/16/08) – Multiple race teams are making layoffs, including Chip Ganassi and Hendrick.
- Amid downturn in US, GM and other sports sponsors rethink their gameplans (IHT, 11/16/08) – Major sponsors are withdrawing their sponsorship dollars, and teams are going to pay the price.
Not a lot of good news out there right now. I’ve also heard about other teams in the four major sports making staffing cuts. I don’t expect a rebound anytime soon, but I do think we’ll hit a leveling-off point in the next 4-6 months.
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I thought news on Sunday was suppose to be happy?
If you set Google Alerts for “events canceled due to economy,” the number of increasing articles is alarming.
Championship Off Road Racing has canceled their finale. Here… http://www.corracing.com/blog.asp?bid=1&pid=227
and others…
“Championship Off Road Racing has made the very difficult decision to cancel the Primm, Nevada race on October 25th and 26th. The current credit crisis has made it very difficult to cover CORR’s costs.” – CEO Jim Baldwin
Here… http://www.corracing.com/blog.asp?bid=1&pid=224
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Not sports, but ticket sales. Even Charlie Daniels is getting the economy whacking Here… http://www.semissourian.com/article/20081114/NEWS01/811149989/-1/news01
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