How to limit the club's financial losses in a difficult situation?

Here is some information that can significantly limit the club's financial losses during a demanding period.

Over the past period we have had a number of inquiries from clubs that are uncertain or a bit stressed about the financial aspects related to payments when events are cancelled. We fully understand that this raises questions, and we would therefore like to offer some good advice for a demanding situation. The most important thing is not to jump to hasty conclusions, actions, or decisions.

1. Be diligent about informing people

Send out information about all cancelled activities, and let people know that you are following the health authorities' advice and monitoring the situation closely. Everyone knows this is an exceptional situation and that it's difficult for everyone. No one expects you to have answers to every question either. It's also important to keep informing people continuously as new clarifications come in.

In both Superinvite and Cup Manager it's easy to send a message to everyone. Contact our support team if you have questions about that.

2. The club's finances

When it comes to internal financial matters, rushing a decision to refund everyone can end up costing the club unnecessarily. No one yet knows exactly how this will develop, and rushing such decisions can turn out to be expensive.

For example, many people may not want their money back, understanding that the club will face financial challenges during a demanding period. In that case, it doesn't make sense to refund all the money before people have been given that option. In addition, extraordinary measures may come from NIF (the Norwegian Sports Federation) or the relevant ministry that could affect the situation.

All amounts that have been paid in are held safely in your Stripe account until they are transferred to a bank account or refunded. We just want to stress this, in case anyone is worried about the security of the money. For the record, we should mention that Invite AS is not financially affected by whether the club or association chooses to issue refunds or not.

3. Build awareness

We support sport during a difficult time, and wish the best for all our clubs. We therefore encourage you to post, share, or like the following Facebook post. This can help build the kind of awareness that helps the club solve the financial challenges arising from the situation.

Beyond that, we wish all our customers and partners good luck during a demanding period.

Get in touch with us if you have any questions about the above.