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BCCI will suffer losses over INR 2000 crores due to postponement of IPL 2021, forced by COVID

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Image source: IPLT20.COM

Rohit Sharma and MS Dhoni

BCCI will lose more than 2,000 rupees from broadcasting and sponsored money earmarked for this year’s Indian Premier League, which was postponed indefinitely on Tuesday due to the COVID-19 cases in the bio-bubble.

BCCI was forced to postpone IPL after numerous cases of COVID-19 among players and support staff emerged from Ahmedabad and New Delhi in the last few days.

“We will lose something between 2,000 and 2,500 kroner for the postponement in the middle of this season. I would say that something in the range of 2,200 crore will be closer to an accurate estimate,” a senior BCCI official told PTI on condition of anonymity.

The 52-day tournament with 60 matches would end in Ahmedabad on May 30th. Only 24 days of cricket were possible with 29 completed games before the virus stopped production.

The biggest loss for BCCI is the money it receives from Star Sports for the tournament’s broadcasting rights.

Star has a five-year contract worth 16,347 kroner, which is 3,269.4 kroner per year. If there are 60 matches in a given season, the value of a match reaches approximately 54.5 crowns.

If Star pays per match, then the amount for 29 matches will be 1580 rupees approximately what would be 3270 kroner for a full tournament. This means a loss of R90 1690 crores for the board.

Similarly, VIVO mobile phone makers, as sponsors of the tournament title, pay 440 kroner per season and BCCI is likely to receive less than half of that amount due to the delay.

Add to that associate sponsorship companies such as Unacademy, Dream11, CRed, Upstox and Tata Motors, which pay 120 rupees each. Some auxiliary sponsors are also there.

“Reduce all payments by half or a little less and you will achieve a loss in the range of 2200 kroner. In fact, the losses may be much more, but this is the back of the calculation of the hand for the season,” said the official.

Losing a significant amount of money will also reduce the central pool of revenue for the season (the money that BCCI distributes between eight franchises) to almost half.

However, the official did not disclose how much each franchise will lose due to the suspension of the tournament.

“It’s hard to say what kind of money for sponsorship and sponsorship they’ve earned this season, as the economic climate is quite hostile,” he said.

The payment of the players will be based on duration, not proportionally

In the event that players are only available for part of the tournament, salaries are paid proportionally, which means “determining the amount of one person according to their share of the whole”.

However, a senior player said that proportionality is only applicable when a player voluntarily makes himself available for only part of the tournament based on available matches.

In this case, the organizers have stopped the event, so the franchisees will probably pay for at least half of the season.

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