The Indian Premier League (IPL) 2021 was postponed midway due to the upward transmission of the Covid-19 epidemic. The Board of Control for Cricket in India (BCCI) has suffered huge financial losses due to the postponement of this popular franchise T20 event. If the IPL is not played on the field this year, BCCI will face a loss of Rs 2,500 crores. That is what BCCI president Sourav Ganguly said.
The BCCI has already faced a lot of criticism for hosting the IPL amid the pandemic. Ignoring all the criticisms, BCCI was continuing the IPL. But after the start of the Delhi chapter, the IPL was postponed as seven people from four franchises including four cricketers were affected. Since then, a public interest lawsuit worth Rs 1,000 crore has been filed against the BCCI for organizing the IPL. In a conversation with The Telegraph, Ganguly explained the reason behind organizing the IPL in the face of so much criticism.
The BCCI was finally forced to postpone the IPL indefinitely due to the growing transition between players and staff in the franchises. There have also been allegations of violations of bio-bubble at the two venues. Meanwhile, Ganguly is thinking of conducting the IPL anyway. He said “A lot of things need to be changed. We need to talk to the other boards and see if there are any vacancies before the T20 World Cup. A lot of things are involved and gradually we will work on them. If we can’t organize the IPL, we will lose about 2,500 crore rupees (340 million). This is also a preliminary calculation. “
However, the BCCI said last Wednesday that the amount of damage would be a little less. BCCI treasurer Arun Singh Dhumal told Reuters about the financial loss, “We could lose an estimated Rs. 2,000 crores. The value of the dollar figure is about 260 million dollars. The BCCI treasurer explained, “We have not yet been able to calculate the exact amount (losses) due to various contractual obligations.”
Till 2018-22, Star Sports bought the TV and digital broadcasting rights of IPL for Rs 16,346 crores. Star Sports is giving BCCI a hefty amount of Rs. 545 million per match for broadcasting this tournament. This time 29 out of 60 matches have been completed. Thomas Abraham, the co-founder of Sportspower, which oversees the commercialization of sports in India, said, “You will get as much money as you can supply.” This means BCCI will only get the money for the 29 matches from Star Sports that have been played in this edition of IPL.
According to economic analysis firm Duff & Phillips, the Covid-19 epidemic has damaged the brand value of the IPL. The price has dropped by 3.6 percent, which was Rs 6.19 billion last year.
IPL 2021 has been postponed indefinitely but the recent updates regarding it are always on Baji. Keep an eye on Baji and know the recent tidings of IPL!