Amid late schedule, both IPL franchises and the BCCI are concerned about the financials of the league. At the same time one thing is comforting for both sides that there has been no reduction in broadcast fees, the BCCI and the franchisees will benefit from it. However, their income will definitely go down this year.
The Central Government finally gave approval to organize the competition and the way to organize the competition became easier. In the month of March IPL, the BCCI has been worried about hosting the tournament since it was postponed indefinitely. COVID-19 had raised questions about the organization of this year’s IPL as the lockdown period in the country has been steadily increasing. Finally, the ICC has decided to postpone the T20 World Cup to be held in Australia in October, paving the way for the IPL. However, given the strained relations between the ICC and the BCCI, the decision was not an easy one.
Now that the IPL has been decided, the BCCI is definitely relieved. But there are also many problems. This year’s competition is taking place in the UAE, and it is challenging to host such a big competition abroad in such a short time. Secondly, the BCCI has another big challenge when it comes to the financial side. Just last week, Chinese mobile company Vivo withdrew as the main sponsor of the IPL T20.
The BCCI, on the other hand, has officially announced that Vivo will not be the main sponsor of the IPL for this year alone. So Vivo could once again make a comeback as the main sponsor of the IPL. At the same time, there is talk among cricket administrators and the business world that the decision has been discussed by the BCCI and Vivo. Meanwhile, both the parties are currently monitoring the future situation and decisions can be taken by them accordingly. If the tension between India and China eases, Vivo may be seen as the main sponsor for the next IPL.
In the current scenario, finding a sponsor with a profit of Rs 440 crore is a daunting task. Moreover, given the thrill of the IPL and its charm, it is difficult for sponsors to get discounts. The relationship between the BCCI and the franchise was strained a few days ago over financial issues. Competition in the UAE in the absence of an audience or in the presence of a limited audience will have a major impact on the profits from ticket sales. Of course, this will also affect team sponsors and material sales. In general, many companies will line up for IPL team sponsors.