With no Covid-19 insurance, BCCI and stakeholders set to lose over Rs 3800 crore if IPL 2020 is cancelled
The Board of Control for Cricket in India (BCCI) is the richest cricket body in the world but then a cancellation of the Indian Premier League's 13th edition could deliver a massive jolt to the Indian cricket body.
IPL 13 was postponed in mid-March due to the novel coronavirus pandemic. The tournament's revised date was set for April 14.
What the BCCI and IPL organizing committee did not expect is the 21-day lockdown which was announced by India's Prime Minister Narendra Modi on March 24.
Looking at the growing crisis due to the virus, the Indian government is now mulling an extension of the 21-day lockdown. It was supposed to end on April 15, a day after the scheduled start of the IPL but an extension is almost inevitable now.
The BCCI office-bearers must be dwelling on the possible chances of holding the tournament sometime later this year but to identify a window even for a curtailed IPL will be a herculean task thanks to a packed cricketing calendar this year.
A cancellation on the other hand, would not only be disappointing for the fans, but would also deliver a massive financial hit to the BCCI and the IPL stakeholders.
In 2018, Star India had won the bid after cracking a five-year deal worth a staggering Rs 6138.1 crore ($944 million approx). But the aforementioned deal was only for the media rights of the Indian national team’s home series and domestic cricket for a period of 5 years.
Now get this, in 2017 Star India had also won the TV and digital rights for the IPL. They had to shell out a whopping Rs 16,347.50 crores ($ 2.55 billion) for the worldwide rights for a 5-year period from 2018 to 2022. It is still the biggest television deal in cricket history.