BCCI braces for financial loses as COVID 19 wreaks havoc around the globe

It seems like the Christian superstition of 13 being the devil’s number is turning out to be true for the Board of Cricket Control in India (BCCI) as the fate of the 13th season of the Indian Premier League (IPL) lies threatened by the COVID 19 pandemic. With each passing day, the chances of a curtailed or cancelled IPL season keep increasing as the virus spreads across the globe.

IPL, which stands postponed to April as of now, generates around 400 million INR for the BCCI annually from the broadcasters, STAR India and its central pool of sponsors. But with such uncertainty lingering around the fate of the cash-rich tournament, the governing body is slated to bear huge financial losses this season and it is quite evident from the fact that BCCI halved the winners’ amount earlier this month.

“The loss at this stage is notional. The biggest loser in any economic dynamics is always its biggest gainer, which is BCCI in this case,” SportzPower co-founder Thomas Abraham, whose company monitors sports business in India, told Reuters.

“For STAR India, it’s also a loss of opportunity. It was building the India launch of its Disney+ OTT (streaming service) around the IPL.”

The BCCI and IPL franchises also pay 20% of a player’s annual fee to his home board, which stands to lose that money if it does not allow the cricketer into the IPL due to fears about the coronavirus for example. A shorter tournament will mean a smaller share from the shrunken central pool of revenues for the eight IPL franchises. With travel restrictions getting stringent every hour, the chances of the IPL being played sans foreign players is a big possibility doing the rounds lately.

The evolving pandemic not only threatens the IPL but also jeopardises the future of the T20 World Cup to be held in October this year. With situations worsening it doesn’t seem like the gala event Down Under will go as planned. 

ECB’s new League, The Hundred, is yet another tournament which hangs in the balance, as the epicentre of the pandemic shifts from Asia to Europe, having been scheduled to kick off on July 17.