On the pitch the tackles will be felt as heavily as usual, but in the stands the champagne will be flowing less freely when the Six Nations kicks off this afternoon. It has emerged that corporate hospitality budgets are being slashed by up to 90% in the wake of the recession, leaving sporting authorities with a hole in their income and major events facing an uncertain summer.

With marketing budgets being cut to reflect tough economic times and sponsors wary of senior staff being pictured guzzling champagne and oysters alongside headlines of redundancies and cutbacks, the corporate hospitality industry is facing unprecedented pressure.

The news may not cause fans, who have railed at the rise of the "prawn sandwich brigade", to shed any tears but the sports that have relied on the exponential growth of the tented villages that accompany every major event to fund their development will be hard hit.

Compass Group, the catering conglomerate that owns Keith Prowse, the official corporate hospitality partner for the Rugby Football Union and several other sports, said there had been a backlash against "conspicuous consumption" among its clients.

All companies, but particularly banks, are wary of being castigated in the media for being out of step with customers. One that may be eyeing the Sunday papers with some trepidation is Total, the French petrol company that has been in the news over the industrial dispute at its Lindsey refinery. It is understood to have a box at Twickenham for England's game against Italy today.

Banks and other financial firms, which have poured money into sport over the past two decades as they scrambled for customers, have cut spending.

Lloyds Banking Group, which has extensive sponsorship commitments including a tier one deal with London 2012, said: "We are very sensitive to the financial difficulties that people are facing up and down the country and, like all companies, we are keeping a close eye on all our costs, including client events."

The RFU said recently that corporate hospitality sales were running at 27% below budget, despite the opening last year of luxurious hospitality suites in Twickenham's south stand. Francis Baron, the RFU's chief executive, has predicted it will lose at least £10m in revenue this year and has launched a cost-cutting programme.

RBS, the bank that is now partly in public hands but recently agreed to renew its sponsorship of the Six Nations for another four years in deal worth around £20m, said that it had cut its hospitality budget by 90%. Other major sponsors are also understood to have slashed their hospitality budgets, with trips that were once seen as a perk of the job now requiring strict authorisation and evidence that they will contribute to the bottom line.

During the boom years every major sponsorship deal included a corporate hospitality element and there was also a growth in bespoke and unofficial packages, as evidenced by the swarm of helicopters descending on Silverstone every year, the huge temporary pavilions erected at major football championships or the ever louder clink of glasses at Wimbledon or Lord's.

An RBS spokeswoman said it had signed the deal to extend its sponsorship of the Six Nations before the full extent of the economic crisis became clear. But the company has slashed its hospitality budget. "We are, of course, reviewing all our sponsorship activity as we look to cut costs across our businesses. Hospitality at this year's championship has been significantly reduced by 90%," she said. Sponsorship experts said if the biggest events were being hit, the effects would be more pronounced lower down the sporting scale. At Championship level and below in football, county cricket and club rugby, there is often a reliance on local businesses to sponsor matches and fill executive boxes.

"It will hit the smaller clubs. Premier League football, Twickenham and Lord's are insulated to a certain extent. So if they are suffering, further down the chain it will be even harder," said Nigel Currie, a director at the sports sponsorship agency BrandRapport.

Package deals

England v Italy, Twickenham today

Obelensky's Package £499 + VAT per person, includes: official RFU match ticket; drinks reception on arrival; complimentary bar pre-match and 90 minutes post-match, including champagne; four-course lunch; car parking; official souvenir programme.

Scotland v Wales, Murrayfield Sunday

Murrayfield Boxes £525 + VAT per person, includes champagne and canapés; complimentary bar pre- and post- match; guest speaker and player appearances; gourmet meal; post-match buffet; premium match ticket; match day programme; TV and video facility; VIP hostess.

Wales v England, Millennium Stadium 14 February

Platinum package £899 + VAT per person, includes tickets for private box; glass of champagne on arrival; three-course meal; full complimentary bar of beer, wine, soft drinks and five spirits; official match programme; limited edition gift; hospitality manager.