It's because, in czech, there is a small difference between "žo" (which should be really transcribed as "zho") and "řo" which is more like "rzho". Though the difference is important, for example: řádný = proper; žádný = no one.
That "inverted circumflex" sort of softens the respective letter. So "c" is always "ts" (unless it is "ch" which is treated as one letter and pronounced as in german "machen"), but "č" is "cz" (like in "czech"); similarly "s" is pronounced as in english, but "š" should be transcribed as "sh" etc. To sum it up: these all should be treated as different letters because of the very different sounds, however western media somehow come up with the brilliant idea that these small things above letters are irrelevant. (I know: in fact, it's not a brilliant idea; only pure laziness.)
Once you learn how to pronounce letters and syllables, you are going to be able to pronounce virtually every czech word more-or-less properly. However, you need to distinguish the letters which should be distinguished, i.e. use the diacritic.
Informative. Thank you.
As for diacritical marks getting lost in translation; can we just get real here and not blame it on pure western laziness? I mean, we all know why e.g. Navrátilová got stipped of her accents aigus
back in the 7-bit character days of, eh, ...ca. 1985?, when she got computerised by the WTA and her new alter-ego, Navratilova, was (re)-introduced to the virtual world.
Even today the WTA computer can't do accents, diacritical marks, and other decorative thingies; ergo it's Safarova... (And hey, even if some journalist does do a double-check on the spelling, it may just be that the website/publisher/whatevah can't handle "inverted circumflex r's" and whatnot, due to a limited character in the font they're using...)
BTW, what's up with the Czechification (-ovaification?) of player names... Billie Jean Kingová
!?!? Are they, like, altering the names just because they don't comply with Czech surnames standards?