New Delhi : Wimbledon will get Rs 10 billion if canceled, know what will happen with IPL!. The 13th season of the Indian Premier League has been advertised for 15 April due to Corona virus. However, given the current situation, it seems that the tournament can still be held after that. In such a situation, there is also the possibility that the IPL may be canceled this year. If this happens, the BCCI is sure to suffer a big financial loss.
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Similarly, the IPL will not be the first sports event to be canceled. The shooting World Cup in Delhi was also canceled. The Tokyo Olympics has also been postponed for a year.
Due to the Corona virus, not only cricket, but many big tennis tournaments have also been postponed or canceled. One of these is also Wimbledon, which was canceled for the first time after World War II. But the organizers of Wimbledon will not suffer much more than the IPL.
Wimbledon organizers to get more than 10 billion rupees
In fact, according to an India Today report, Wimbledon organizers will get $ 141 million, or about 10.7 billion rupees as insurance cover, even after the tournament is canceled. The organizers of Wimbledon have been giving two million dollars every year as a pandemic insurance for the past 17 years. This is the reason that now the organizers will get around 10 billion rupees.
Did not get insurance for the epidemic
At the same time, according to sources, it is not that the BCCI has not insured the Indian Premier League. It is another matter that the BCCI has made IPL insurance in the case of war and terrorist attack. Interestingly, in some meetings there was a discussion about the insurance of the epidemic, but most people called it beyond reality. This is the reason that if the IPL is canceled then the BCCI will suffer a lot of economic loss.
BCCI may change its policy
According to the report, the BCCI can now change its policy in this matter and now all kinds of disasters can be included in it. At the same time, IPL host Broadcaster Star India is set to suffer a direct loss of Rs 3269.50 crore due to the cancellation of the tournament. The BCCI had sold IPL title sponsorship rights to Vivo for Rs 2000 crore for five years. In the event of the cancellation of the tournament this year, the board will also incur a loss of Rs 400 crore. According to the news, the current season of IPL cancellation can result in a loss of about 4 thousand crores to BCCI and its stakeholders.
There is a direct impact on the earnings of players due to not having IPL. The tournament was earlier scheduled to begin on March 29, which has been postponed until April 15 due to the corona virus epidemic. But given the current situation of Covid-19 in the country, it does not seem that there is any possibility of this tournament being played before the end of May.
Loss sharing is necessary
Sources in the BCCI say that the board is expected to lose around Rs 4,000 crore due to lack of IPL and suspension of international cricket. And it becomes a compulsion to share this financial loss with the players.
The major part of earning to the players
BCCI’s revenue and payment structure is structured in such a way that about 26 per cent of the revenue goes to the players. In this, international cricketers get about 13 percent, and the rest is distributed among domestic cricketers and junior players.
Impact on board earnings
An official said, “Of course if the organization suffers financial losses, it will also affect the salaries of the employees. Pay cut is a possibility.