IPL cancellation costs Indian cricket half of a billion dollars
Scrapping the money-spinning Indian Premier League this season as a result of the coronavirus pandemic would cost more than half a billion dollars, but cutting players' pay was not yet being considered, a high official has told AFP.
The world's richest Twenty20 tournament is looking at an initial wipeout in its 12-year history following the original March 29 start date was postponed repeatedly.
Cancellation of the IPL for 2020 means an enormous financial hit.
"The BCCI is looking at a major revenue loss. In the event the IPL will not take place, losing would be near to 40 billion rupees ($530 million), or higher," said Board of Control for Cricket in India treasurer Arun Dhumal.
India, like other cricket nations, is anxious to visit a go back to competitive international sport, but must follow government orders and advice.
"We aren't sure whether we will be able to own it this year," he admitted.
A one-day international series against South Africa in March was already cancelled but it may be the IPL, which commenced in 2008, that generates the majority of BCCI earnings and is regarded as worth more than $11 billion a year to the Indian economy.
"We will only manage to figure out the exact earnings loss once we are sure of how many games we've lost," said Dhumal.
The IPL brand value was estimated at $6.7 billion last year by the Duff and Phelps financial consultancy.
Indian broadcaster Star Sports paid a lot more than $220 million for five years of TV rights up to 2022. But it was reportedly targeting $400 million of revenue in 2020 alone.
- 'Safety is paramount' -
Gripped by a global lockdown, many national boards have been forced into cost-cutting.
Cricket Australia has laid off almost all of its staff as the England and Wales Cricket Board has announced pay cuts.
Other top sports, such as for example football's English Premier League and Spain's La Liga, have also seen players accept wage cuts.
But Dhumal, who joined the BCCI leadership this past year alongside president Sourav Ganguly and secretary Jay Shah, said that it had been hoped to avoid pay cuts for players.
"That might be the last thing that people would like to do at our end," said Dhumal.
"This is why we will work (on) how much is the loss finally we need to pay.
"So once we will be able to assess that then we would consider it, nonetheless it will be the very last thing on our agenda."
Dhumal said India's tour of Sri Lanka, scheduled to get started in June, would only just do it if the pandemic eases.
"The safety and health of our cricketers is paramount and any shred of doubt, we will not shy away from calling it off."
He said The BCCI leadership was in frequent discussions with the International Cricket Council about restarting competitive cricket.
Doubts remain over the Twenty20 World Cup from October in Australia and India's four-Test, three-ODI tour afterwards.
Dhumal has been quoted as saying that Indian players would be ready to go into a two-week quarantine prior to the tour. But he told AFP this might only apply if the World Cup were cancelled.
"In case we already are there for the T20 World Cup then there is absolutely no question of quarantine because we will already have been there for per month roughly," he said.
"Cricket Australia are also not able to come up with something concrete. A whole lot will depend on the government and the travel bans in place. Let's see how each goes about it."
