WTA can weather revenue hit caused by cancelled tournaments but no normalcy until 2022, says CEO Steve Simon

WTA, which has lost a big chunk of tournaments since the forced shutdown in early March, will finally resume after a five-month break with the Palermo Open from 3 August.

Reuters July 25, 2020 18:26:29 IST
WTA can weather revenue hit caused by cancelled tournaments but no normalcy until 2022, says CEO Steve Simon

The WTA has a strategy in place to cope with the financial strain caused by the COVID-19 pandemic but chief executive Steve Simon thinks the elite women’s Tour will not return to any semblance of normality before 2022.

The WTA, which has lost a big chunk of tournaments since the forced shutdown in early March, will finally resume after a five-month break with the Palermo Open from 3 August.

All of its tournaments in China this year were cancelled on Friday after the country’s Sports Ministry said it would not host any international events this year apart from 2022 Winter Olympic trials.

“The WTA is no different than any other business in this world and everybody’s been affected financially by this,” Simon told Reuters from the United States.

“And we’ve been hit hard, just as many other companies have been as well. If we’re not operating and you’re losing 50 to 60% of your year, your financials and your revenues are going to drop significantly.

“Do we have some big challenges financially? Absolutely. But we do have a strategy, we do have a plan in place that’s going to allow us to operate.”

Simon, who took over as the CEO in 2015, said the plans would evolve over the remainder of the year but it has ensured that the body would survive the economic crisis.

“And from a good news standpoint, our tournaments seem to be strong and stable as well, and are weathering it,” he said.

“You never know where you might lose one. But it appears that most of our calendar will stay intact if obviously the conditions allow for sporting events to be held going forward.”

China featured prominently in the provisional calendar for the remainder of 2020 with seven tournaments, including the $14 million season-ending WTA Finals in Shenzhen.

With some 200,000 new COVID-19 cases being reported globally every day and international travel restrictions still in place, Simon said plans were changing on an hourly basis and visibility for the rest of the year remained clouded.

“I don’t think that we will be back to what we used to take as ‘normalcy’ probably until 2022,” he said. “So we’re now also looking at how are we going to manage 2021, because I don’t think this goes away as of January.

“There’s a tremendous amount of planning and scenarios going in as to what that year might look like.

“But it is watching and monitoring and working with the health experts to get their opinions, and then try to put our plans in place as best as we can so that we can operate as efficiently and as healthy as we possibly can.”

Updated Date:

also read

Copa America's fate rests in hands of Brazil Supreme Court amid surge in country's COVID-19 cases
Sports

Copa America's fate rests in hands of Brazil Supreme Court amid surge in country's COVID-19 cases

Already delayed by 12 months because of the pandemic, the Copa America nearly unravelled when original co-hosts Colombia and Argentina fell through at the last minute — the former because of violent anti-government protests, the latter because of a surge of COVID-19.

Euro 2020: Fans at England's European Championship games to use vaccine passports
Sports

Euro 2020: Fans at England's European Championship games to use vaccine passports

There will around 22,500 spectators for England's first two group games, against Croatia and Scotland at Wembley, with the stadium running at 25 percent capacity.

'Joints for jabs': Washington allows marijuana stores to offer free pot to promote COVID vaccinations
World

'Joints for jabs': Washington allows marijuana stores to offer free pot to promote COVID vaccinations

Licensed adult-use marijuana retail shops can give away a single pre-rolled joint to anyone over 21 who gets a shot at an on-site vaccine clinic held by 12 July