IPL 2020 suspended until further notice.
Amid all the speculation for IPL 2020, BCCI and Ministry of Health have recently issued a notice that the IPL 2020 match has been suspended until further notice due to Convid-19 Threat. This is the second time the BCCI has been forced to defer the IPL. Last month, just before the government put the country in a three-week lockdown, the board had pushed the start date of the tournament back to April 15. This move was strategically decided by the group of members to buy some time to decide on the way ahead of the Board of Control for Cricket in India (BCCI) on suspension the 13th edition of the Indian Premier League. The announcement comes two days after Prime Minister Narendra Modi’s address to the nation, announcing the extension of the lockdown period until 3 May
A BCCI official said in a statement that “The health and safety of the nation and everyone involved in our great sport remain our top priority and as such, the BCCI along with the Franchise Owners, Broadcaster, Sponsors and all the Stakeholders acknowledge that the IPL 2020 season will only commence when it is safe and appropriate to do so”
Indian prime minister Narendra Modi announced an extension of the lockdown until May 3, even as all domestic and international travel in and out of the country remained blocked. This made it apparent that there would be no chance of hosting the IPL in the foreseeable future.
Earlier, The tournament was scheduled to begin on March 29 with a clash between defending champions Mumbai Indians and last year’s runners-up Chennai Super Kings. Not only fans, but the Franchise and board has incurred a huge loss due to this. According to the reports, withdrawing of the IPL has taken a financial hit of around ₹10,000 crores. This includes gate receipts, sponsorship and media rights, franchise revenue, and players fees as well as hospitality and travel-related costs. The big hit will be taken by BCCI, the organizer of the tournament.
In terms of the Franchise loss, At the league, players are paid 15% of their salaries at the beginning of the tournament followed by 65% during the tournament and the remaining 20% afterwards within a stipulated amount of time.
The eight franchises will also suffer huge losses in case that the IPL sees no action. A sizeable chunk of the profit gained by the BCCI through the IPL goes to the franchises, which they will lose. They will incur losses from advertising and gate revenue, which was estimated to be in the region of Rs 450-500 crore in sponsorships for all the 8 teams along with an additional Rs 250 crore (estimated) from ticket sales.
what will happen next ??
This case is really heartbreaking for the IPL fans as they were all waiting for this mega event. All of them were ready and prepared to support their respective teams, but now it is looking like we will not be able to see the live-action of IPL in 2020.
We will keep you updated until further notice.