Sports Not Immune To Current Financial Crisis

Wall Street is taking a dive again today, as the Dow is below 10,000 for the first time in four years, and more news outlets are looking at the potential impact on sports. While most experts say the sports business is insulated for now because of long-term contracts, most warn of a ripple effect the longer this goes on. That of course could impact sponsorship spending and activation, as well as franchise values and stadium financing. Of all the properties, much of the focus is on the PGA Tour, which has a slew of corporate support from an imperiled finance industry. PGA Tour Exec VP & CMO Tom Wade sounds a familiar refrain when he says, “For the short term, we're actually in pretty good shape. In the longer term, if this persists, we just don't know.” Meanwhile, Bruins Owner Jeremy Jacobs says that New York "would be hit hardest by a decline in corporate sponsorship."

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