Premier Rugby and the PFA to speak at Credit Crunch Briefing
Jon Varney of Premier Rugby and Nick Cusack from the Professional Footballers’ Association will speak at The Credit Crunch: Implications for Sport, a World Sports Law Report full-day briefing to be held at the London offices of K&L Gates on 8 May.
The global recession has hit financial institutions - one of the main benefactors for top level sport - especially hard. It has also resulted in the public cutting back on luxuries and for many, sport is an expensive luxury – this has been illustrated by many clubs freezing ticket prices in an attempt to halt attendance decline. The recession follows a financially tough season for domestic rugby union, which took place in 2007 despite players and fans decamping to France for the Rugby World Cup.
Football is also more than £3 million in debt, according to Lord Triesman, Chairman of the Football Association. UEFA is considering amending its club licensing system to stop clubs amassing unacceptable levels of debt. Many clubs began the 2008/9 season without a sponsor and many clubs are facing administration due to financial difficulties – the latest being Southampton, whose parent company went into administration recently.
Our Briefing will examine issues that sport will have to deal with due to the recession, such as restructuring of sponsorship and player contracts; methods of coping with declining revenue; the impact that the current economic climate has had on London 2012; maximising media revenue through combating piracy; impact on club investment and more.
In the spirit of the Briefing, we are also offering a £100 discount on the usual price of attendance, plus additional delegates can attend for £100 each.
For a full programme and a list of speakers, please visit our site, or contact Erika Joyce on +44(0)20 7012 1383.