IPL Suspended for this season, many players and staff having COVID
On Tuesday, the Indian Premier League (IPL) 2021 was officially suspended by Board of Control for Cricket in India (BCCI) as a result of players from different franchise and their support personnel having screened Covid positive. The cancellation of the IPL, the biggest money spinner for the BCCI, which in turn is also the biggest contributor to the finances of IPL teams, could prove to be a big financial setback for both.
As per reports, it was seen that as per 2020, the earnings from IPL was about 4000 crores, when it was held in United Arab Emirates (UAE). This revenue was from broadcasting alone and not any crowd attendance. From each broadcast it can be averaged that BCCI earn about Rs. 67 crore per match. When we see that there are 31 matches yet to be played in this year’s IPL, we can easily estimate a loss of revenue of more than 2000 crores. This is sure to hit BCCI hard as this was a major source of revenue to the BCCI’s central reserves. It is this central reserve which is then shared equally among BCCI and the IPL franchises.
Their sponsorship arrangements with different corporations is another big reason for worry for IPL franchises. Each IPL franchise is awarded a number of rupees from sponsors for showing its names on team jerseys according to their strength and popularity. Teams are estimated to receive a turnover between single digit to around 40 crores , depending on the location on which the sponsor logo is put. These sponsors, which are estimated to be about Rs 600 crore this year due to the increased digital rights sale, whereas originally it would have given the eight franchises up to Rs 500 crores each year.
Donia Elizabeth [MBA IIM-s]
Manager Mktg [ Quiz Incharge]
AirCrews Aviation Pvt. Ltd.
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