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It’s vital the IPL gets the green light to start or face huge financial implications

Web Admin

Web Admin

5 Dariya News

28 Aug 2020

Indian Premier League: 

Organisers of The Indian Premier League (IPL) would lose $535 million in revenue if it were unable to stage the tournament this year. This is the daunting figure that they have to ensure isn’t lost due to no cricket being played in 2020.The Board of Control for Cricket in India (BCCI) are fully aware of the ramifications of the huge lose in revenue should a date and venue not be found to host the tournament this year. Therefore, talks have been going on date and night for the past month to ensure the tournament can go ahead and a venue can be found. The logistics of hosting such a tournament are huge and with COVID19 situation in India, it is proving very difficult to confirm a start date with no guarantees of a safe environment to play. With world cricket needing to rubber stamp events for the back end of 2020, its key that the does fit into this calendar and that a venue is agreed to host the event.Should the event not be able to be staged in India, then United Arab Emirate (UAE) has said the event can be staged there and save millions of dollars in lost revenue. Sponsors have paid huge amounts of money to be part of the IPL and broadcasters around the world likewise to take a feed for the event and show in their country as cricket has a huge appeal globally.

Huge loss in revenue

A figure which has been shared is a $535 million loss in revenue should the IPL not be able to be staged this year. This figure is not an underestimated one as the fees from the broadcasters and main sponsors along with individual team partners mount to a significant level. Each of them would look to claim back money already committed to be part of the tournament this year, which would really hurt the long term running of the tournament.The loss in revenue would be so high due to the growing success of the tournament in recent years which has meant millions of fans around the world would tune in to watch the IPL both in India and abroad. With overseas players playing a big part in the event foreign broadcasters such as United Kingdom, Australia, South Africa, New Zealand and the Caribbean all enjoy showing the IPL on their screens.For sponsors, this tournament which runs for almost two months gives them huge eye balls to grow awareness of their brands and be seen by millions of consumers both in India and around the world. Should the tournament not go ahead it would leave them looking to seek significant compensation as the value of being associated with the IPL is high.

Potential start date

The Board of Control for Cricket in India (BCCI) is working around the clock with IPL organisers and also the International Cricket Council (ICC) to finalise a date in the calendar where this event can be played this year. The key event which could make way for the IPL to run this year is the World T20 tournament in Australia. The 16 team tournament may well have to give way given the guarantees of safety and moved to 2021, meaning that the IPL now has a major opportunity to be played during late September and November.

The next major decision to avoid the IPL losing $535 million in revenue is to decide whether the IPL can be held in India or not this year. With outbreak of COVID19 still occurring in the country and with overseas players due to play, if measures of safety can’t be assured, then the organisers have no other option than to take the tournament abroad.United Arab Emirates (UAE) has publicly said it will gladly host the IPL this year and ensure the tournament runs as planned this would not only save millions for the Organisers but in years to come will also gain followers of the tournament given UAE is desperate to host such a huge event. Time is of the essence and it will likely all play out in the next couple of weeks and the Organisers of IPL will do whatever it takes to ensure the event goes ahead this year and with full backing from the Teams, they hope to bring the IPL to life in 2020.

 

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