IPL 2020 May Take Rs. 10,000 Crore Hit If Called Off: Report

There are clouds of uncertainty hovering over IPL 2020, with the latest development being that the tournament has been deferred to April 15, amid the novel coronavirus pandemic.

BCCI president Sourav Ganguly and secretary Jay Shah took the decision to postpone the tournament after the Maharashtra, Delhi and Karnataka government opposed to host the tournament in their cities.

Over the years, the lucrative tournament has attracted a large number of fans all over the world, and a lot sponsors have poured in their money in the tournament.

How IPL can take a big hit if called off due to coronavirus

According to report in livemint.com, if the sports industry experts are to be believed, “IPL, where international players are a big draw, is at risk of taking a financial hit of around ₹10,000 crore.

This includes gate receipts, sponsorship and media rights, franchise revenue and players fees as well as hospitality and travel- related costs. The big hit will be taken by BCCI (Board of Control for Cricket in India), the organizer of the tournament.”

35% of IPL crew comes from other countries

The IPL is a big money setup. It draws a lot of talent from all over the world and is a good source of seasonal employment. But due to fresh visa restrictions till April 15 their entry might get restricted.

“Around 35% of IPL talent (players) and production crew comes from other countries. With the new visa curbs, their entry might get restricted until they get work visas. All the safety and execution related concerns are valid as there are multiple stakeholders involved with obvious cost implications,” Vinit Karnik, business head, ESP Properties, GroupM was quoted as saying by Live Mint.

There will be a meeting held on Saturday to discuss on the further consequences of the forthcoming IPL. IPL chairman Brijesh Patel, BCCI president Sourav Ganguly and secretary Jay Shah are expected to sit together and take some major decisions.