BCCI set to incur losses of over Rs 2,000 cr due to IPL 2021 postponement
The BCCI stands to lose over Rs 2000 crore of the broadcast and
sponsorship money earmarked for this year's Indian Premier
League which was indefinitely postponed on Tuesday due to
Covid-19 cases in its bio-bubble.
The BCCI was forced to postpone 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.
"We would be losing anything between Rs 2000 to Rs 2500 crore
for the midway postponement of this season. I would say something in the range
of Rs 2200 crore will be closer to accurate estimation," a senior BCCI
official told PTI on conditions of anonymity.
The 52-day 60-match tournament would have concluded 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 has a five-year contract worth Rs 16,347 crore which is Rs
3269.4 crore per year. If there are 60 games in a season, the per match
valuation comes to approximately Rs 54.5 crore.
If Star pays per match, then the amount for 29 matches would be Rs
1580 crore approximately out of what would have been Rs 3270 crore for a full
tournament. This means a loss of Rs 1690 crore for the Board.
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