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20 Apr 2021
The Board of Control for Cricket in India (BCCI) on Tuesday had suspended the Indian Premier League with immediate effect after the rise in COVID-19 cases among the franchise teams.
A senior BCCI official has now said that the board will have to bear a financial loss between ₹2000 to ₹2500 crore after the tournament has been postponed midway.
“We would be losing anything between ₹2000 to ₹2500 crore for the midway postponement of this season. I would say something in the range of ₹2200 crore will be closer to accurate estimation," a senior BCCI official told PTI on conditions of anonymity.
"Slash all the payments by half or a bit less and you will be reaching a loss in the range of 2200 crore. The actually losses could be much more but this is a back of the hand calculation for the season," the official added.
The BCCI will suffer the biggest loss from Star Sports who has the broadcasting rights. Star has a five-year contract worth ₹16,347 crore which is ₹3269.4 crore per year and for every match it pays approximately ₹54.5 crore if there are 60 games in total in one IPL edition.
Apart from this, VIVO who is the title sponsor for the IPL makes a payment of ₹440 crore per season. But because of the postponement of the league, the BCCI will get less than half of the amount.
The BCCI is planning to resume the IPL in September.