The IPL 2021 tournament started on 9 April and matches were taking place without any problems till the cases were found in KKR.
The IPL is the world’s largest T20 cricket league.
IPL 2021 was suspended indefinitely on 4 May after several cases of Kovid-19 were detected in the bio bubble. The announcement was made after Sunrisers Hyderabad wicketkeeper batsman Wriddhiman Saha and Delhi Capitals spinner Amit Mishra were found positive for Kovid-19. Earlier on May 3, Chennai Super Kings bowling coach Laxmipathy Balaji and Kolkata Knight Riders (KKR) bowlers Sandeep Warriors and Varun Chakraborty also had positive results. Earlier, two IPL matches were postponed due to increased infection. The tournament started on 9 April and matches were taking place without any problems till the matter was found in KKR.
By suspending IPL 2021 in this way, the BCCI is also set to suffer financial losses. BCCI earned Rs 4000 crore from the IPL held in the UAE last year. This was earned when all the matches were done without an audience and the world was struggling with the corona. Also, IPL 2020 took place in UAE outside India. In such a situation, the completion of IPL 2021, which is stopped after 29 matches, will have a huge impact on the pocket of BCCI. If you look at half the tournament, then the BCCI may be earning less than Rs 2000 crore. The sponsors who got the Indian Board had tied up for the entire tournament. In such a situation, the agreement may end now if the tournament is suspended. Due to this, there will be a clear impact on the earnings of BCCI.
IPL’s brand value will suffer
However, the BCCI will still have a silver lining to maintain the earnings. Under this, if the remaining matches of IPL 2021 are organized in the coming days or months, then the earnings of the Indian board can be full. But it is not yet decided that IPL 2021 will be completed. Apart from this, the BCCI may suffer loss of tournament suspension in the long term. Because the corona epidemic and now the tournament being stopped in the middle has an effect on the brand of IPL. Last year also saw that there was a drop in the brand value of the IPL.
According to Duff & Phelps’ report, the value of IPL in 2019 was Rs 47500 crore which was reduced to Rs 45800 crore last year. This time too, there is a possibility of further decline. BCCI gets sponsors at cheap prices due to falling brand values. Like it was seen in 2020. Dream 11 was the title sponsor of the IPL when Vivo was removed. But where Vivo used to get Rs 440 crore annually from Dream 11, it got only Rs 222 crore.
Now talk of players and teams
The franchise also suffers from the suspension of the IPL. The franchisees get money from ticket sales, team sponsors and the BCCI at the stadium. Due to Corona, the entry of spectators in the stadium is closed, then the franchisees are already suffering its loss. However, the BCCI had spoken about the help of the teams in this regard. It is a matter of sponsors of the team, when there are no matches, the sponsors will not come. If IPL 2021 has stopped after 29 matches, then the teams will get the money accordingly. Until the rest of the matches are not held, the sponsors will not get the money. The franchisees get the most money from the BCCI. Under this, the team owners also get some part of the money that the board earns from the sponsors of the tournament. Also, the owners of the IPL earn money from selling the broadcast rights.
At present, the broadcast of IPL is with Star India. He took the broadcast rights of IPL for five years in 2018 at a total of Rs 3269.40 crore annually. The BCCI and team owners get the most money from this. Now that the IPL has stalled in the middle, even then Star India will have to pay full money to the BCCI. Due to the pressure of these funds, the board will have to complete the remaining matches of IPL 2021 by the end of the year, otherwise Star can ask for a discount or relief from the BCCI.
If the players are concerned, they will not have much difference from being suspended in the middle of IPL 2021. Players who have not withdrawn from the tournament are entitled to full money. But the players who had withdrawn their names or left the IPL in the middle would be at a disadvantage. They will not get money for this season.
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