Badminton World Federation badly hit by Covid-19, suffers $9.82 Million loss in FY 2020

Badminton World Federation badly hit by Covid-19, suffers $9.82 Million loss in FY 2020
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

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Also, 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 2020

BWF narrowly retains present 3×21 scoring system
Meanwhile 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 A proposal to change the present system of best-of-three games and 21 points to 5×11 was originally made by Indonesia and Maldives and seconded by Badminton Asia, and Korea and Chinese Taipei associations.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.”