In the last week of February 2020, when the Indian cricket team returned from New Zealand after baffling series loss, their focus was solely on IPL. But all of this changed in the first week of March 2020, when COVID outbreak happened across the nation. All sporting events were cancelled or either postponed. IPL 2020 News also made to the top charts as it was postponed for a long time to go.
Indian premier league famously known as IPL is the biggest and wealthiest T-20 tournament on the planet. Any alterations or worst case – it’s cancellation can affect many from players, support staff, and broadcasters other people who are dependent on the income from the games. This time everything us at the stakes and economically it cannot get worst for the tournament.
The 13th edition of the mega tournament is destined to loose fit sure in wake of Coronavirus outbreak in India and across the world.
But the question is what’s the magnitude of losses, only time can answer the question, so just wait and watch.
IPL 2020 News- Postponement
Originally, IPL 2020 was announced to start on 29 March and conclude on 24 May 2020. But due to COVID-19 outbreak, it was postponed several times.
Now in the present scenario, there are only three possibilities for IPL 2020-
1. Things get better by mid-July and 60 match tournament get conducted till 1st week of September
In this case, the losses will be minimal but will be there due to the fact that in no condition matches can be played in front of a crowd. All matches are destined to happen behind closed doors. It will primarily affect the sponsor’s visibility, broadcasters advertising revenue for lack of enough prime time-space and gate passes or stadium tickets.
It will also affect local businesses and many other associated activities. The BCCI and franchise, cricketer, match official, support staff, groundsmen will get paid according to contracts.
By taking the numbers in consideration for IPL 2020 News-
In this case, the broadcaster (Star India) and central pool sponsor VIVO collectively bring 4000 crore on the table.
Only if full tournament takes place central pool will not get affected. BCCI and franchise according to the contract will share this money 50-50 per cent. The players will get paid according to contracts (85 crore is the purse value)
Match official and other employees will be paid as per contracted earlier. Franchises will also earn from local revenue pool and event management agencies will be paid too.
2. A truncated or shorter IPL happens
The number of days and matches get reduced but tournament gets conducted.
In this condition, losses will be more as compared to case one.
As the lesser number or day’s and matches means lesser opportunity for advertising and lesser revenue collection in whole. If this comes into effect the losses will be marginally high and affect the stakeholders and the cricketers. Broadcasters have already sold most of advertising rights for the season and will have to recollect them and return the allowed money.
Mainstream sponsor will look to grab other deals in television and cinemas.
BCCI and franchises revenue from the central pool will take a blow because broadcasters and central pool sponsor will pay according to renegotiated contracts, according to the number of matches going to be played.
The hotels and airline businesses will be affected as travel and stay will be lesser compared to the full season. Eventually, the players and match officials too will be paid according to the new renegotiated contact. In this scenario, there will be plenty of renegotiation that will depend on what kind of window has been made effective.
3. If IPL 2020 is Cancelled
In this worst-case scenario, the tournament is wrapped up without a ball being balled.
Where everyone losses but in the end, this current situation is in no one’s hand. IPL 2020 News will largely depend on the losses of various parties. Everyone will go home calculating what they could have earned if the tournament happened.
It’s impossible to put out an exact number for the total loss. Some are actual like broadcasting money, sponsors money, and many more while others are notional like local businesses, event management companies, stay, travel, and many other related to the tournament.
BCCI’s Stance on Conducting IPL 2020
A BCCI official said,
“Right now eerie bit is everybody is thinking at the back of their mind that perhaps a force majeure is the only possibility”.
In this case, many players will also get affected not only financially, but mentally too.
As the T-20 world cup is on the horizon many players are eyeing a place in national teams for the world cup with their performance in IPL.
All in all everything or everyone case to happen will depend on the magnitude of COVID outbreak and the government measures to contain it. IPL 2020 News will come as BCCI announces guidelines for training and match practice of players post Coronavirus pandemic.