What happens if IPL is canceled? Find out today how many rupees are at stake and how much to lose.
The Coronavirus is steadily gaining ground in countries around the world, and global sporting events are being canceled or postponed for this reason. In this way, the world’s largest Twenty20 Indian Premier League (IPL) has been postponed till April 1st. What happens if IPL is canceled? Find out today how many rupees are at stake and how much to lose.
Given the current situation, the IPL is likely to be canceled this year. If the tournament is not played then the BCCI could have a direct hit of around Rs 4,000 crore. Although what will happen in the coming days will be known, but one thing is certain that whatever happens will only cause harm. What happens if IPL is canceled? Find out today how many rupees are at stake and how much to lose.
IPL Planning Options …
How can the options be affecte?
- If the first option applies, the disadvantages will be enormous. Broadcasting will have an impact on advertising revenue mainly due to the lack of proper prime time-space. Lack of audience expectations can also cause big harm. BCCI, franchisees, cricketers, match officials, support staff, groundsmen and other employees can be financially harmed.
- If the alternative is implemented, the loss could be marginally greater and could have a direct impact on many stakeholders, including cricketers. It is noteworthy that broadcaster companies have already sold 5% of their advertising stock for next season. In this case, he will be forced to give it back. The broadcaster will try to get the best prime time.
- The third option is very frustrating for boards, broadcasters, and sports enthusiasts. Some stockholders are digging into the coronavirus that is spreading around the world with the speed. He has invested huge sums of money and many companies are likely to become bankrupt.
Whose money is at stake?
Broadcaster Star India and the central pool of sponsors (led by President Sponsor Vivo) collectively bring in around Rs. 1 crore per year (approximately: Rs. 5 crores, Vivo 1 crore, other central sponsors Rs. 3 crores). If the tournament is over, the central bridge will not suffer a major loss. There is a contract between the BCCI and the franchisee, and the money is shared with Russia from 5-6 Russia. If the tournament ends, the players will be paid for the franchise (which is a purse cap of Rs 100 crore per franchisee). The match officers and other employees will also be paid in full. Franchisees can be compensated at the local revenue pool (excluding gate money which is Rs 1.5 to Rs 4 crore per center). What happens if IPL is canceled? Find out today how many rupees are at stake and how much to lose.
Who will lose if IPL is canceled?
BCCI will not suffer a huge loss if the T4 tournament is canceled. The broadcaster company will not earn any revenue from advertising and distribution and this directly means that Star India will not pay Rs. In this way, Vivo 1 and Central Sponsors will not pay 2 to 5 crores. In this way, BCCI and franchisees will not get any revenue and this simply means that players (Rs. 1 crore per eight teams) will not be paid by the franchisees. BCCI will not pay any kind of payment to the event company, match officials and foreign players’ boards (5% participation amount). Franchisee teams will not receive local jersey sponsors, gate money and advertising revenue. What happens if IPL is canceled? Find out today how many rupees are at stake and how much to lose.
Finally, if you found this Wide News helpful or informative, please share it on Facebook!