The numbers are at all times staggering when it come to the Indian Premier League (IPL). Be it the runs scored or the sum of money it generates, the figures are at all times large. That is the rationale why the Board of Control for Cricket in India (BCCI) and Star India, the host broadcasters, are staring at losses in crores of rupees if the league is cancelled within the wake of the coronavirus pandemic.
According to a report in India Today, the IPL has insurance coverage towards conflict and terrorism. It doesn’t have any cowl towards a pandemic like Covid-19. The Wimbledon Championships, which was lately cancelled for the yr, then again has been paying for a pandemic insurance coverage and are anticipated to be lined for this yr. Sports enterprise analyst Darren Rovell in a tweet talked about that Wimbledon may get 141 million USD from its insurance coverage cowl.
“Wimbledon reportedly paid $2 million a year for pandemic insurance for the last 17 years (Total: $34 Million). For this year’s cancellation as a result of the Coronavirus, Wimbledon will reportedly receive $141 million from the policy,” Rovell tweeted.
Wimbledon reportedly paid $2 million a yr for pandemic insurance coverage for the final 17 years
(Total: $34 Million)
For this yr’s cancellation on account of the Coronavirus, Wimbledon will reportedly obtain $141 million from the coverage.
— Darren Rovell (@darrenrovell) April 8, 2020
The report additional highlighted the astronomical figures concerned if the IPL is cancelled. The report acknowledged that host broadcasters Star India will lose Rs 3269.50 crore if the match is cancelled this yr.
The BCCI may face a lack of Rs 400 crore from the cancellation as a part of its title sponsorship cope with VIVO of Rs 2,000 crore for a interval of 5 years.
Another Rs 200 crore loss is additionally anticipated from central sponsorship. The report additional acknowledged that the IPL contributes an enormous quantity to the Indian GDP as properly and a cancellation will harm all events.