BCCI may lose more than Rs 2,000 crore due to postponement of IPL | Web News Observer

BCCI may lose more than Rs 2,000 crore due to postponement of IPL

The remaining season was postponed continually in the Indian Premier League (IPL) 2021, with Corona coming to terms with the case.

On Tuesday, Wriddhiman Saha and Amit Mishra were reported to have been corona infected, following which the league decided to postpone it. With this, the Board of Control for Cricket in India (BCCI) is sure to suffer a substantial financial loss.

BCCI may lose more than Rs 2,000 crore

The PTI quoted a senior official as saying, “The delay in this session may cause us to lose between Rs 2,000 and Rs 2,500 crore. I would say the amount of Rs 2200 crore would be more accurate.”

A total of 60 matches were to be played this season as per the predetermined schedule. However, only 29 matches could be played, and it was not possible to organise the league.

There will be a massive loss due to the broadcast amount received from Star Sports.

The most significant loss to the BCCI will be from the amount received from Star Sports.

Star’s five-year contract is worth Rs 16,347 crore, which is slightly more than Rs 3,269 crore per year.

If there were 60 matches in a season, then each match would be about 54 crores 50 lakhs.

If Star pays per match, then the amount of 29 matches is about Rs 1,580 crore. In such a situation, the board will incur a loss of 1,690 crores.

The board will also be at a loss due to these sponsors

Similarly, the mobile maker Vivo pays Rs 440 crore per season as the tournament’s title sponsor. The BCCI is expected to receive less than half the amount after the tournament is deferred.

There are also subsidiary sponsoring companies such as Unacademy, Dream 11, CRED, Upstocks and Tata Motors, with each company paying around Rs 120 crore. Full payment is not possible from them either.

The actual loss may be many more.

The official added, “If all payments are reduced by half or a little, there will be a loss of close to Rs 2,200 crore. The actual loss may be much higher, but this is an estimated figure.”

BCCI vice-president Rajiv Shukla made it clear that the IPL has not been cancelled but has been postponed. In such a situation, it will be interesting to see if the league becomes possible this year.

Also Read: Corona crisis: 61 percent people disappointed and worried about the current situation of the country- Survey

 

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