IPL 2020 will take place in the UAE as BCCI has informed the IPL franchises to prepare for suffering losses financially in respect of IPL 2020 taking place abroad amidst the global pandemic COVID-19. The owners, most of whom are associated with the league from the start of IPL’s 13 years, have agreed that the safety and security of those participating in IPL will not be compromised despite suffering losses financially.
BCCI has conveyed to the franchises that the withdrawal of Vivo as the title sponsor means a minimum of Rs. 25 crore loss to each of them. The money involved is divided between BCCI and teams equally after all expenditures are taken out. It is to be noted that Vivo was paying per season a sum of Rs 440 crores. BCCI has conveyed to the owners that a Request for Proposal will be floated, but it will be difficult to assume the number of bids due to short time and economic conditions.
IPL 2020 Will Probably Witness Low Revenue
With no guarantee in ticket revenue, team owners are prepared for low income this year. Also, every franchise is having issues with individual sponsors who are looking for discounts. For the last couple of years, after a $25 billion broadcast deal was signed in 2017, teams are earning a surplus of about Rs 200 crore each.
The expenditure of BCCI will increase as the league will be held in UAE under the biosecure environment with extra health measures and strict protocols.
“The health and safety of the players, all stakeholders is paramount, even if it meant a loss in our incomes. We’re strongly behind the BCCI on this. We’ll cooperate.” said an owner seeking anonymity.
All of the owners have also been advised not to speak to the media. Hence, IPL owners will support BCCI fully despite suffering losses in revenue in IPL 2020 in providing safety and security of the players and team members in IPL this year 2020.
IPL 2020 Was Postponed From March Due To Covid-19
It is to be noted that IPL 2020 will be held from September 19 to November 10 after it was postponed from March to the coronavirus pandemic which witnessed global deaths and lockdowns imposed across the world, resulting in the postponement of the T20 World Cup, Olympics, and Wimbledon among other sporting events.
Days after BCCI circulated a 16-page document briefing all the eight IPL franchises about the Scheduled Operational Procedures (SOPs) for IPL 2020 in UAE, the franchises have started to quarantine their players and make arrangements for their coronavirus tests.