The BCCI will be expected to lose more than ₹2000 crore of the broadcast and sponsorship money as this year’s Indian Premier League (IPL) has been suspended until further notice on Tuesday due to COVID-19 cases in its bio-bubble. The BCCI was forced to postpone the 14th edition of the IPL after multiple cases of COVID-19 among players and support staff emerged from Ahmedabad and New Delhi in the past couple of days.
During a chat with PTI, an anonymous senior BCCI official said, “We would be losing anything between ₹2000 to ₹2500 crore for the midway postponement of this season. I would say something in the range of ₹2200 crore will be closer to accurate estimation.”
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IPL 2021 was expected to have in Ahmedabad on May 30. However, only 24 days of cricket was possible with 29 completed games before the virus halted proceedings. The biggest loss for BCCI is the money it gets from Star Sports for the broadcast rights of the tournament. Star had signed a five-year contract worth ₹16,347 crore which is ₹3269.4 crore per year.
If there are 60 games in a season, the per match valuation comes to approximately ₹54.5 crores. If Star pays per match, then the amount for the 29 games will come around ₹1580 crore out of what would have been ₹3270 crores for a full tournament, which showcases the loss of around ₹1690 crores for the Board.
Similarly, mobile manufacturers VIVO, as the tournament’s title sponsors, was expected to pay ₹440 crores per season and BCCI is likely to get less than half of that amount because of the postponement. Apart from that, associate sponsor companies like Unacademy, Dream11, CRed, Upstox, and Tata Motors, who pay in the range of ₹120 crores each.
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ELboarting it further, the BCCI official said, “Slash all the payments by half or a bit less and you will be reaching a loss in the range of 2200 crore. The actually losses could be much more but this is a back of the hand calculation for the season. It is difficult to say what kind of sponsorship and co-sponsorship money they earned this season as the economic climate has been pretty hostile.”
