Russia Ukraine War Impact on Sports Market - Analyzing Impact on Sponsorships, Events and Media Landscape
An overview of the impact that the Russia Ukraine conflict has had on the sports industry.
In February 2022, following Russian military action in Ukraine, the sporting world was quick to condemn Russia and looked to isolate the country in line with international sanctions. While the sluggish response from sports governing bodies was a source of criticism initially, the sports world has acted decisively since those initial few days. High profile events such as the Russian Formula One Grand Prix were cancelled in short order, both in the short and long term. The high-profile UEFA Champions League final, scheduled to take place in St Petersburg, has been moved to Paris while Russia has been suspended from international football following protests by Poland, Sweden and Czech Republic, all of whom refused to play Russia in the latest round of World Cup qualifying.
In addition, Russian sports people have either been banned outright from competing as was the case at the recent Winter Paralympic Games in Beijing or excluded from sports entirely as evidenced by Haas F1 team terminating the contract of Russian driver Nikita Mazepin. Additionally, Russian athletes are reportedly being asked to denounce the actions of Russian President Vladimir Putin - tennis world number one Daniil Medvedev has been told that a condition of being allowed to compete at this summers Wimbledon Championship will be that he provides assurances that he does not support the actions of the Russian regime.
A briefing outlining the lost revenue across media rights, sponsorship agreements and event hosting.
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