This month we will take a look\nat the relationship between the sports leagues and their teams during the pandemic.<\/p>\n\n\n\n
These unprecedented times created\nan operating environment never seen by the sports industry. The shutdown eliminated live sports for weeks\nduring each respective season.<\/p>\n\n\n\n
Each entity developed a\nplaybook for its return. This involved\nworking with each stakeholder, most importantly the government and public\nhealth officials. Months later, it is still\na work \u2013 in \u2013 progress, with changes being made as needed.<\/p>\n\n\n\n
The largest professional sports\nleagues took its time to return. Being\ndesperate and Rushing back too soon had its downsides. The stakes were high \u2013\nrisks associated with failure not acceptable. \nBeing patient paid dividends.<\/p>\n\n\n\n
Financial resources matter. The\nability to test, monitor and establish protocols was not cheap. Hosting events without fans was lost\nrevenue. Being able to weather the\nmonetary carnage is not easy. Media\ncontracts softened the blow.<\/p>\n\n\n\n
Working with municipalities was\nboth a necessity and requirement. They\ncould not just say professional sports are coming to town, so let us play. Authorities established strict guidelines and\nprotocols that applied to everyone. Select\nlocal governments in the Southeast deemed motorsports an \u201cessential business\u201d \u2013\nmaking it easier to have races in their home market areas.<\/p>\n\n\n\n
There was a collective spirit\non all levels. Everyone was affected and\nin this together. They were eager to get\nback, willing to follow guidelines and rules, and treated following them as a\nsource of pride. Bonding under the\ntaglines #racingtogether and #togetherwin \u2013 motorsports led the way.<\/p>\n\n\n\n
NASCAR was one of the first series\nback in action. Ten weeks after stopping\nat Phoenix, it restarted in Darlington. It has raced consistently since then and plans\nto finish the season on time in early November.<\/p>\n\n\n\n
They established a protocol\nthat emphasized safety and efficiency. Essential personnel were limited and social\ndistancing was recommended. Schedules\nwere tightened with one day shows and no qualifying becoming the norm.<\/p>\n\n\n\n
At track temperature and\nsymptom checks awaited entry into the garage areas. <\/p>\n\n\n\n
However, NASCAR did not require\ncovid-19 testing citing availability and accuracy. Personal responsibility was emphasized for\nmonitoring each individuals situation. This\nwas different than other professional sports leagues that administered tests\ndaily under the bubble environments. <\/p>\n\n\n\n
The Race Team Alliance serves\nas collective voice for teams in their discussions with NASCAR. This dialogue covers the competitive and\ncommercial aspects of racing with the ultimate goal of betterment of the sport\nfor all.<\/p>\n\n\n\n
The Charter System was\nestablished in 2016 for a term of five years, and was recently extended until\n2024. There are a total of 36 charters, currently owned or leased by about eighteen\nteams. Three teams (Hendrick, Gibbs, Stewart-Hass) have four each. <\/p>\n\n\n\n
They receive about $260 million\nannually thru various prize winnings and purse programs. Nascar\u2019s annual media contracts with Fox \/\nNBC is worth an estimated $850 million.<\/p>\n\n\n\n
Central to Formula One\u2019s\nexistence is the Concorde Agreement. \nThis contract is between the FIA,\nFormula Teams and Formula One Group. It\nserves as the foundation for the competitive and commercial success of the\nsport.<\/p>\n\n\n\n
The terms specify how teams\nmust compete in races and broadcast revenues are distributed. Details are confidential but public stock\nfilings by Liberty Media provide insight.<\/p>\n\n\n\n
Ten Formula One teams have\nagreed to the terms of a new Concorde Agreement. This expires in 2025. The annual prize money pool is about $1.0\nbillion with Ferrari receiving the largest share. Teams have also agreed on set\nof competitive regulations which include a budget cost cap for teams of $145\nmillion.<\/p>\n\n\n\n
The unprecedented economic\nchallenges related to the pandemic has forced everyone to reassess their\noperations. Negotiations between the sanctioning\nbodies and teams may have dragged on, but were put on the fast track. Working together for the best interests of\nthe sport will assure for a more sustainable and competitive environment well\ninto the future.<\/p>\n","protected":false},"excerpt":{"rendered":"
This month we will take a look at the relationship between the sports leagues and their teams during the pandemic. These unprecedented times created an operating environment never seen by the sports industry. The shutdown eliminated live sports for weeks during each respective season. Each entity developed a playbook for its return. This involved working […]<\/p>\n","protected":false},"author":5,"featured_media":819,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"_links":{"self":[{"href":"http:\/\/businessofspeed.speedwaysonline.com\/index.php?rest_route=\/wp\/v2\/posts\/818"}],"collection":[{"href":"http:\/\/businessofspeed.speedwaysonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/businessofspeed.speedwaysonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/businessofspeed.speedwaysonline.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"http:\/\/businessofspeed.speedwaysonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=818"}],"version-history":[{"count":1,"href":"http:\/\/businessofspeed.speedwaysonline.com\/index.php?rest_route=\/wp\/v2\/posts\/818\/revisions"}],"predecessor-version":[{"id":820,"href":"http:\/\/businessofspeed.speedwaysonline.com\/index.php?rest_route=\/wp\/v2\/posts\/818\/revisions\/820"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/businessofspeed.speedwaysonline.com\/index.php?rest_route=\/wp\/v2\/media\/819"}],"wp:attachment":[{"href":"http:\/\/businessofspeed.speedwaysonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/businessofspeed.speedwaysonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=818"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/businessofspeed.speedwaysonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}