Badminton World Federation badly hit by Covid-19, suffers $9.82 Million loss…

first_img Bengaluru Football By Kunal Dhyani – May 25, 2021 TAGSBADMINTON WORLD FEDERATIONBadminton World TourBWF Commercial Report CardBWF Hit by CovidBWF Suffers financial loses SHARE Badminton World Federation badly hit by Covid-19, suffers $9.82 Million loss in FY 2020 Also Read:विराट कोहली-अनुष्का शर्मा ने बचाई 2 साल के बच्चे की जान, 16 करोड़ के इंजेक्शन का किया इंतजामAlso, the BWF has said that the current four-year contract cycle, due to expire in 2021, was extended by 12 months to 2022 with a significant number of events not hosted last year due to Covid-19. Significantly, the BWF event’s broadcast and sponsorship rights are sold by the Infront agency as per an eight-year agreement between the two sides for the period between 2018 to 2025. Meanwhile, the deal also included digital and betting rights.Badminton World Federation badly hit by Covid-19, suffers $9.82 Million loss in FY 2020BWF narrowly retains present 3×21 scoring systemMeanwhile Badminton could have seen a new scoring system had a single vote gone the other way at the Badminton World Federation’s (BWF) AGM, held virtually last Saturday. A proposal to change the present system of best-of-three games and 21 points to 5×11 was originally made by Indonesia and Maldives and seconded by Badminton Asia, and Korea and Chinese Taipei associations.It received 66.31% votes for and 33.69% against, falling short of the required 66.67% for a two-thirds majority needed to push through the change.“Our membership has spoken, and despite the very small margin in which the two-thirds majority was not reached, the BWF respects the outcome to retain the three games to 21 points scoring system,” Poul-Erik Hoyer, who was re-elected unopposed as president on Saturday, said.“It is the second time such a proposal has not been approved, but I see the fantastic participation of the membership (282 votes) and the decision reached today as an indication that the badminton community is very much engaged in the best interests of the sport during these difficult and challenging times.” Share on Facebook Tweet on Twitter Formula 1 SportBadmintonLatest Sports NewsSport NewsSports Business RELATED ARTICLESMORE FROM AUTHOR Tokyo Olympics: Deepika Kumari to be sole entry to Tokyo Games as Indian women’s recurve team fails to qualify Latest Sports News Latest Sports News Football Football WI vs SA 2nd Test Day 3 Live: Start delayed due to rain, SA lead by 149 runs – Follow Live Updates center_img Facebook Twitter ISL: Sunil Chhetri extends Bengaluru FC stay until 2023 Tokyo Olympics: BCCI provides fuel in Indian Olympic flame, to contribute Rs 10 crore F1 French GP 2021 Live: Max Verstappen snatches lead back from Hamilton, 2 laps to go; Follow Live Updates Euro 2020, North Macedonia vs Netherlands: Top 5 players to watch out for in MKD vs NED ATP Tour Euro 2020, Switzerland vs Turkey LIVE: Switzerland to punish hapless Turkey; Follow Live Updates Cricket Badminton World Federation badly hit by Covid-19, suffers $9.82 Million loss in FY 2020 BWF Hit by Covid – BWF Suffers financial loses: Badminton has become one of the world’s most affected sport due to Covid-19. Not only 70% of the BWF World Tour events got cancelled in 2020 due to Coronavirus pandemic but also the world body of badminton has suffered huge commercial loses for the same reason. BWF has declared $9.82m loss in their annual report vis a vis projection of $4.31 million profit for the year.BWF Hit by Covid – BWF Suffers financial loses: Highlight of BWF Commercial Report Card for 2020– BWF had projected income of $39m for year 2020 vis a vis $25.79 Million in the previous year– BWF earned only $3.9m in 2020– Because of the cancellation of the events worldwide, the event costs also dipped to $3.56m in 2020 as compared to $25.13m in 2019.– Of all the events which were cancelled, the three main events were the Thomas and Uber Cup Finals, World Tour Finals beside Tokyo’s 2020 postponement WTC Final Live- Ind vs NZ: Kyle Jamieson bags 5th five-wicket haul in 8th Test, rattles India in WTC final Previous articleBAN vs SL 2nd ODI- Taskin Ahmed replace injured Mohammad Saifuddin as a concussion substituteNext articleIPL 2021: DC’s Prithvi Shaw credits Rahul Dravid for Vijay Hazare Trophy and IPL 2021 success Kunal DhyaniSports Tech enthusiast, he reports on Sports Tech industry and writes on sports products. Halle Open 2021 Final: Ugo Humbert defeats Andrey Rublev to become champion Euro 2020, Italy vs Wales LIVE: Gareth Bale and Co face do-or-die clash; Italy eye third consecutive win; Follow Live Updates, Cricket last_img

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