“There is a sense of long term confidence that both sport and sponsorship are going to bounce back,” according to Rob Hartnett of Sport for Business speaking on Today with Sarah McInerney on Tuesday morning.
“The number has increased significantly since the start of the lockdown, which has been the longest hiatus in the history of sport,” he added in conversation about the Onside Covid-19 Sports Impact Monitor determining the confidence and opinions of over 100 organisations that are members of Sport for Business.
“There is a greater sense that there will have to be renegotiation on the fees side of it rather than just press pause and let it all roll on. There are going to have to be tricky conversations in the short term.”
He also touched on the fact that brands are likely to be rewarded for staying with their support of favourite teams and sporting organisations.
“If you are a bank, an insurance company or a retailer that is supporting sport, customers are going to like the fact that you stuck with them. If you withdraw sponsorship there is a likely to be a price to be paid in consumer confidence in your brand.”
You can listen back to the full interview here
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