The official from the Board of Control of Cricket in India (BCCI) has revealed that if the Indian Premier League (IPL) would have canceled, BCCI could have suffered a mega-loss of INR 4000 crore.
Earlier, the league was all set to be kicked off by 29th March but the several delays amidst the Coronavirus delayed the league shortly. BCCI was looking for every possible window to organize the cash-rich T20 league. After the ACC and the ICC have canceled the Asia Cup and the T20 World Cup, BCCI has got a vacant window of September-November to hold it and have decided 19th September as the initiative date.
The league will go ahead in full fledge. The broadcasters’ contracts were to cost the board and IPL negatively hence, they looked forward to the financial blows that could scare them and decided to hold IPL.
BCCI: Not conducting IPL means a straight blow of INR 4000 crore
“Not conducting IPL means a straight blow of Rs 4,000 crore to the board’s topline. We have already received advances of close to Rs 2,000 crore. Not delivering IPL will mean either we will have to give it back or extend all the contracts by one year. Both the options are not in favor of the board,” a senior BCCI official was quoted as saying by the Economic Times.
“If we had announced the cancellation, Star would ask for a refund, and the matter would have reached the courts. Also, we were hopeful that the ICC would push the T20 World Cup, and a window will be available. And nobody could foresee when the pandemic would subside. But now, we have a real chance for IPL 13 to materialize,” an official added.