IPL 2021 suspended impact: BCCI set to lose more than ₹2,000 CR, teams to earn far lesser

The BCCI's decision to suspend IPL 2021 midway is going to cost them big time with the board likely to lose more than INR 2000 crore of the broadcast and sponsorship money set aside for the tournament this year. The IPL 2021 was indefinitely suspended after multiple positive COVID-19 cases were reported across teams in a span of two days. This is set to cause another headache for Sourav Ganguly.

IPL latest news: BCCI set to lose over INR 2000 crore after suspending IPL 2021 midway

According to an InsideSport report, a BCCI official, while speaking to PTI, said that the BCCI would be losing anything between INR 2000-2500 crore for the midway postponement of this season. According to the official, something in the range of INR 2200 crore will be closer to an accurate estimation. The biggest loss that the Sourav Ganguly-led BCCI will have to incur is from the official broadcasters of the IPL 2021, Star Sports. The leading sports network has a five-year contract worth INR 16,347 crore with the BCCI which accounts for INR 3269.4 crore per year. With 60 matches in an IPL season, the BCCI is being paid INR 54.5 crore per match.

Out of the 60 matches, only 29 were played in IPL 2021 which means the BCCI will get INR 1580 crore out of the INR 3270 crore, which they were going to receive if the full tournament had taken place. However, with IPL 2021 suspended, the BCCI will face a whopping loss of INR 1690 crore from broadcasting rights. Moreover, mobile manufacturing company, VIVO pays INR 440 crore per season to the BCCI for IPL 2021 sponsors (title) rights.

However, with the IPL 2021 suspended midway, the board will receive less than half the amount. Similarly, the BCCI will have to take a hit from IPL 2021 sponsors (associate) like Unacademy, Dream11, CRed, Upstox, and Tata Motors, who pay in the range of INR 120 crore each. The official further said that upon slashing all the payments by half or a bit less, the loss will be in the range of INR 2200 crore. According to him, the actual losses could be much more but this is a back of the hand calculation for the season. Notably, the loss of such a huge amount of money will also reduce the central revenue pool for the season to nearly half.

IPL latest news: Is IPL 2021 cancelled?

The 'IPL 2021 postponed' news took the internet by storm as fans were left wondering "Is IPL 2021 cancelled?" To answer the query, no, the tournament has not been called off but has been suspended for the time being. The same was confirmed by a top BCCI official to Republic World.

While speaking to Republic World, the BCCI official said that the IPL 2021 has been suspended and not cancelled. He added that the IPL 2021 resumption date will be decided next week. The official also assured that all IPL 2021 matches will be rescheduled once they get clearance for shifting the entire tournament to Mumbai and added that until then, the teams will remain in the bio-bubble.

SOURCE: AP