IPL 2020 Postponed Due To Coronavirus Scare; BCCI Can Lose Rs 10,000 Crore If IPL Is Cancelled
IPL or Indian Premier League is one of the most awaited sporting extravaganzas in India. This year, IPL 2020 was supposed to start from March 29th, and all preparations were completed.
But unfortunately, IPL 2020 will have to be postponed, due to coronavirus.
IPL 2020 Will Be Postponed
BCCI President Sourav Ganguly, Secretary Jay Shah and other top management have met, and discussed the implications if IPL 2020 is organized as per the schedule.
After intense discussions, they have decided to postpone the mega-sporting event to April 15th.
Now, it is not 100% sure if IPL 2020 will start from April 15th or not, as it solely depends on the circumstances and coronavirus impact.
In a tweet, Indian Premier League management informed everyone about this decision:
?Announcement?: #VIVOIPL suspended till 15th April 2020 as a precautionary measure against the ongoing Novel Corona Virus (COVID-19) situation.— IndianPremierLeague (@IPL) March 13, 2020
More details ?? https://t.co/hR0R2HTgGg pic.twitter.com/azpqMPYtoL
BCCI also released a press release, informing this decision: “The BCCI is concerned and sensitive about all its stakeholders, and public health in general, and it is taking all necessary steps to ensure that, all people related to IPL including fans have a safe cricketing experience,”
In case IPL 2020 starts from April 16th, then it will end on June 6th.
BCCI Can Incur Rs 10,000 Crore Loss
In case IPL is only postponed to April 15th, then it’s still ok.
However, in case the entire tournament is cancelled, then it will be a huge financial loss to BCCI.
As per a study by Vinit Karnik, business head, ESP Properties, Group M, BCCI can lose upto Rs 10,000 crore, if IPL 2020 is cancelled due to coronavirus.
The loss includes gate receipts, sponsorships, media rights, franchise revenue and players fees, besides hospitality expenses and travel expenses.
As per Vinit, around 35% of IPL players, and production crew arrive from foreign locations, and Govt has anyways canceled all visas for foreigners.
In case IPL 2020 is canceled, BCCI will have to bear all the expenses.
We will keep you updated, as more details come in.