IPL News

PSL, IPL franchises to suffer mega loss

With the rising disruptions by COVID-19, the aggregative world is under the influence of lockdown by a surplus outbreak. This has costed an adverse for the cricket world predominantly about to be kicked-off Indian Premier League (IPL) and going on Pakistan Super League (PSL) in midway.

It takes years for a business to be lucrative and to generate revenues. PSL franchises, along with the Pakistan Cricket Board (PCB), were expected to create sizable revenues being in its fifth year. Nevertheless, it got scrapped up just a few hours before the eruption of the first Semi-final.

On the contrary, IPL being the cash-rich league, that was to step into its 13th edition, is to suffer a mega loss, beyond even PSL. The outbreak of COVID-19 has landed the Board of Control of Cricket India (BCCI) financially. It is estimated that IPL will lose close to USD 500 million if the season cancels.

With the broadcasting rights for companies for both the PSL and the IPL, broadcasting companies are to go through significant sizable losses. BCCI broadcasting companies had an estimate probably of $445 Million. On the other hand, the monetary amounts are yet to finalized by the Pakistan Cricket Board (PCB) in terms of loss for individual franchises along with the television broadcasters.

However, the central sponsorships and fewer other aspects are additional gadgets of the amalgamated and estimated damages.

 

 

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