IPL 2020 cancellation set to make BCCI lose ₹2000 crore in revenues: Report

The coronavirus outbreak has massively impacted the lives of people across the globe. It has brought the world to an unprecedented, perhaps war-like standstill that has affected global share markets as well. All the major sporting competitions have come to a halt, which is why sporting organizations, leagues and teams alike, have suffered huge losses. It has also resulted in getting the IPL postponed.

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IPL 2020: BCCI embrace for ₹2,000 crore losses after India lockdown gets IPL postponed

The IPL 2020, which was set to begin from March 29, was postponed to April 15 due to coronavirus outbreak. The situation in the country doesn't look promising which is why it looks like IPL 2020 will be cancelled in all likelihood. If the IPL 2020 gets called off, the BCCI is set to suffer enormous losses.

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An anonymous BCCI official, while talking to Mumbai Mirror, said that the board is looking at a loss of ₹2,000 crore if the cash-rich league is cancelled. This, in turn, will affect the salaries of the players. According to the payment and revenue structure of the BCCI, 26% of its income goes to the players. The international players get 13% while the rest is distributed among domestic players and junior players. The official further said that if the organisation takes a financial hit, the salaries of employees get affected as well.

India’s contracts system is graded into four categories. The first category is A-plus which consists of the highest-earning players with the likes of Virat Kohli, Rohit Sharma and Jasprit Bumrah, who earn ₹7 crore per year each. Next is category A, featuring Ravichandran Ashwin, Mohammed Shami, Cheteshwar Pujara, KL Rahul and Ajinkya Rahane, all who earn ₹5 crore.

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Category B, with an income of ₹3 crore, features the likes of Hardik Pandya, Mayank Agarwal among others, while the last category C with an annual salary of ₹1 crore, has the likes of Shreyas Iyer and Hanuma Vihari. MS Dhoni is not a part of the contracts system after he was dropped from the list for the new season. The BCCI official further said that in case of revenue losses for the BCCI due to no IPL 2020, the international players’ income will exceed their entitled share in the board income..

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IMAGE COURTESY: INDIAN PREMIER LEAGUE INSTAGRAM