The out break of corona virus makes organizers to postpone the scheduled sports events in order to avoid the spread. The cash-rich Indian Premier League faces the same fate. BCCI recently made an announcement regard the IPL execution after considering with IPL franchise. Considering the safety terms BCCI postponed the IPL to the mid of April and also hints that IPL could get cancelled if it crosses the deadline(April 20).
Expected lose to BCCI
With all the speculation regarding the IPL, its governing council(BCCI) could lose a huge sum of money if the 2020 edition gets cancelled. However, the amount of loss of broadcast revenues seems like a huge amount. It is estimated that IPL will lose close to USD $500 million(Rs 3869.5 cr) if the season is cancelled. With cases increasing and no improvement in the situation, this seems quite likely to happen.
Broadcasting rights for IPL 2020
Disney-owned Star India holds the broadcasting rights for the IPL. The company has both the television and the digital streaming rights for the league. It was estimated that the company will earn around $445 million. This amount also includes a deal with the UK broadcaster Sky.
Along with this, the central and title sponsorship deals which attract $81 million (INR 600 Crore) will also go out of the hands of the BCCI. Haris Thawani, the chairman of Neo Sports-owner Nimbus Communication, revealed his opinion on the matter to Business Today. According to him, most of the IPL teams will be insured if the 13th edition gets cancelled.