The IPL might suffer losses of up to INR 3869.5 crores (USD 521.6 million) in TV revenue in case of cancellation of the Indian Premier League 2020 amid coronavirus pandemic.
Indian’s top cricketing competition, the IPL 2020, which has been postponed until April 15, is already facing risks of losing somewhere around 600 crores (USD 80.9 million) in title and central sponsorship deals.
Among the domestic broadcasting partners of the Indian Premier League, Star India had already sold above 75% of the tournament inventory a couple of months ahead of the original starting date of the tournament. According to the sources, the same broadcaster was already foreseeing attracting somewhere around INR 3300 crores (USD 445 million) through broadcast as well as digital advertising revenue during this year’s event.
In his recent interview, Harish Thawani, Nimbus Communications Chairman and the owner of Neo Sports, told that of the IPL gets cancelled, all the risk will shift to the broadcasters. Thawani believes the IPL teams, and also the BCCI, must have been insured if the tournament doesn’t go ahead.
Responding to the COVID-19 outbreak across India, the Board of Control for Cricket in India had decided to suspend the upcoming IPL 2020 until April 15 stating that they’re taking safety of everyone involved as a top priority.
“The board will continue to monitor and work closely with the government of India, state governments and other state regulatory bodies to decide on the future course of action in the best interest of public health,” said Jay Shah the honorary secretary of the BCCI.
“The BCCI and all its stakeholders are committed to providing a safe and healthy environment for everyone involved in our great sport and the nation.”
India is almost set to experience a complete nationwide lockdown with the confirmed coronavirus cases in the country growing to 137 already, including 24 foreign nationals. Let’s hope things get normal as early as April 15 – which seems pretty unlikely at this point – and we get a complete season of IPL 2020.