NEW DELHI: Cancellation of Indian Premier League (IPL) due to the coronavirus outbreak could translate into a cut of $700 million-$1 billion for the franchise, which includes the BCCI (Board of Control for Cricket in India), the teams, sponsors, broadcasters and players.
A report by American multinational investment bank division BofA Securities said that BCCI stands to lose ₹38.7 billion in the event of a cancellation, which is almost certain.
Broadcaster Star India had paid Rs. 32.7 billion for the broadcast and streaming rights and sponsors had paid Rs. 6 billion in sponsorship revenues.
Cancellation of the event would also create a huge opportunity loss for Star’s streaming service Hotstar that sees huge traction for the IPL every