Top Rank's CEO Bob Arum believes the economic impact of coronavirus means "low ticket prices" will be needed at events when the cornavirus pandemic is over and the sport of boxing is given the green light to continue.

Sporting events all over the world have been called off in April and May, to further push the charge of social distancing to decrease the spread of the COVID-19 virus.

Due to the pandemic and business closures, millions have found themselves unemployed in the United States.

Arum, 88-years-old, does not feel fans will be "frightened" to attend future events, but he does believe the ticket prices will have to be marked down as consumers will not be looking to spend as much with tighter budgets.

The pandemic will certainly damage boxing when it comes to high ticket prices and overpriced pay-per-view events. The price tags in both areas will have to decrease to a sum that works for the economic climate in a post-pandemic environment.

Arum has no issue with lowering ticket prices to satisfy fans who want to attend live shows.

"I think the problem will be prices for admission will have to be adjusted," Arum told the BBC's 5 Live boxing podcast.

"People will be suffering economically. When this is over and we go back to doing events with spectators, we have to be very, very careful to have relatively low ticket prices as people will not be able to afford the prices they had been paying before coronavirus."