The outbreak of Coronavirus has landed the BCCI into some trouble financially. After the Indian government put restrictions on foreign visas it was always going to be difficult to host the IPL. The 13th edition of IPL was scheduled to start on 29th March. However, the outbreak of the pandemic COVID-19 has forced BCCI to suspend the start of the league until April 15.
BCCI president Sourav Ganguly has revealed that the board will apply ‘wait and watch’ approach regarding the scheduling and start of the league. But, with growing risk involving the virus, there are chances that the entire season could be cancelled. Even though there are also talks about a shortened tournament but there is no confirmation of that as well.
IPL to lose more than half-billion if the tournament gets cancelled
With all the speculation regarding the IPL, its governing council could lose a huge sum of money if the 2020 edition is cancelled. However, the amount of loss of broadcast revenues seems like a huge amount. It is estimated that IPL will lose close to USD $500 million if the season is cancelled. With cases increasing and no improvement in the situation, this seems quite likely to happen.
Disney-owned Star India holds the broadcasting rights for the IPL. The company has both the television and the digital streaming rights for the league. It was estimated that the company will earn around $445 million. This amount also includes a deal with the UK broadcaster Sky.
Along with this, the central and title sponsorship deals which attract $81 million (INR 600 Crore) will also go out of the hands of the BCCI. Haris Thawani, the chairman of Neo Sports-owner Nimbus Communication, revealed his opinion on the matter to Business Today. According to him, most of the IPL teams will be insured if the 13th edition gets cancelled.
Recently after a meeting in the BCCI headquarters, honorary secretary Jay Shah spoke about the current situation. He said, “The board will continue to monitor and work closely with the government of India, state governments and other state regulatory bodies to decide on the future course of action in the best interest of public health. The BCCI and all its stakeholders are committed to providing a safe and healthy environment for everyone involved in our great sport and the nation.”
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