BCCI to lose Rs 2000 crores due to cancellation of IPL 2021!

May 05 2021 03:13 PM
BCCI to lose Rs 2000 crores due to cancellation of IPL 2021!

New Delhi: The tournament has been postponed indefinitely by BCCI on Tuesday after several Players of the Indian Premier League (IPL 2021) were infected with corona. The suspension of the IPL is expected to cost BCCI more than Rs 2,000 crores in broadcasting and sponsorship. "Postponing in the middle of this season could cost us Between Rs 2,000 and Rs 2,500 crores, I would say the Rs 2200 crores will be accurate," a senior BCCI official told the media.

It may be recalled that 60 matches were to be played in 52 days in the tournament and were scheduled to conclude in Ahmedabad on May 30. However, only 29 matches were played in 24 days and the tournament had to be postponed due to a corona infection. The biggest loss for BCCI will be in the amount from Star Sports for broadcast rights of the tournament. The star's five-year contract is worth Rs 16,347 crores which come to close to Rs 3269.4 crores every year. If 60 games are played in a season, the amount per match is around Rs 54.5 crores. If the star pays per match, the amount for 29 matches will be around Rs 1,580 crores, in which case the board will incur a loss of Rs 1,690 crores.

Similarly, mobile maker Vivo pays Rs 440 crores every season as the title sponsor of the tournament. The BCCI is estimated to get less than half the amount for the suspension of the IPL. There are also some subsidiary sponsor companies like Academy, Dream 11, Sea Red, Upstocks, and Tata Motors, each of which pays around Rs 120 crores each season.

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