IPL Suspended: BCCI Likely To Incur Losses Of More Than ₹3000 Crores: Report

With the decision to suspend the remaining Indian Premier League this year due to the growing cases of Covid-19, BCCI is looking at huge losses from sponsors and other players. Read the details below.

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IPL 2021: With the Board of Control for Cricket in Indian (BCCI) announcing to suspend the remaining Indian Premier League (IPL) due to the growing cases of Covid-19 among players, the board is likely to incur losses of more than ₹3000 crore. The cancellation of the cash-rich league could be a big blow for the BCCI's revenue. 

IPL 2020, BCCI earned ₹4000 crores in profits from broadcasts. That tournament, which was held in the UAE was also played without spectators and a similar pattern was followed this year, thus, the same amount of money was expected to be gained from this year's IPL. But with 31 out of the 60 matches yet to be played, BCCI will likely undergo losses that could go up to more than half of its profit, as per a report. 

This loss of almost ₹2000 crore for BCCI may result in the loss of revenue from a 'central reserve poo' of the IPL. Also, another big loss would come from the sponsors of the IPL. Teams were expected to earn 600 crore rupees in sponsorships while BCCI was expected to earn ₹800 crores in sponsorships. But with the tournament being canceled almost halfway, the sponsors might invoke the clause to pay for only half of the desired money of sponsorship. 

With the future of the tournament still uncertain, it is highly unlikely that there wi be any changes for BCCI's good. 

In an official statement issued, BCCI said, "The Indian Premier League Governing Council (IPL GC) and Board of Control for Cricket in India (BCCI) in an emergency meeting has unanimously decided to postpone IPL 2021 season, with immediate effect.

"The BCCI does not want to compromise on the safety of the players, support staff and the other participants involved in organising the IPL. This decision was taken keeping the safety, health and well-being of all the stakeholders in mind," the release said. 

"These are difficult times, especially in India and while we have tried to bring in some positivity and cheer, however, it is imperative that the tournament is now suspended and everyone goes back to their families and loved ones in these trying times," the statement added. 

The decision has come after several players reported to be infected with the novel Coronavirus. Earlier today, wicketkeeper-batsman Wriddhiman Saha of SunRisers Hyderabad camp tested positive of Covid-19. On Monday, Varun Chakravarthy and Sandeep Warrier of Kolkata Knight Riders (KKR) and three members of the Chennai Super Kings tested positive for the Coronavirus.