The Board of Control for Cricket in India would have faced losses up to Rs 4000 crore had there been no chance of the Indian Premier League this year.
A report in The Economic Times listed the financial numbers behind hosting the tournament; the BCCI was set to receive Rs 3300 crore from media rights holder and broadcaster STAR, Rs 440 crore from title sponsor VIVO and a cumulative sum of Rs 170 crore from other sponsors.
STAR had even paid an advance of Rs 2000 crore, and a cancellation of the IPL 2020 could have even led to court cases. Repayment of the advance or extending the contracts by a year were not favourable options for the BCCI.
No wonder then, that the BCCI is doing everything it can to get the tournament up and running. The IPL was originally slated to begin on March 29 but was indefinitely suspended due to the COVID-19 pandemic. The ICC T20 World Cup, which was scheduled in October-November in Australia, was postponed by a year for the same reason, which opened up a window for the IPL.
The BCCI has jumped at the opportunity and is in the process of finalising details of schedule and Standard Operating Procedure for the franchises. Although it’s not yet official, the IPL governing council chairman Brijesh Patel confirmed that the tournament will be held in the United Arab Emirates this year.
The IPL is set to begin on September 19, with the final on November 8. While there were speculations that IPL will start from September 26, the BCCI decided to advance it by a week in order to ensure that the Indian team’s tour of Australia is not jeopardised. The teams are expected to leave for UAE on August 20.
The report added that the franchises, however, could take a hit in their revenues as sponsors could renegotiate deals. The matches are likely to be played in empty stadiums, which could force some brands to renegotiate.