A leading franchise concerned about incurring losses in IPL 2020
Franchises are being 'penny-wise' and 'pound-foolish' on their mean demands to expect compensation: BCCI official
A leading IPL franchise has been reported to have raised concerns over the potential financial losses that they will suffer in the upcoming season of the Indian Premier League (IPL). They have sent a presentation to the Board of Control for Cricket in India (BCCI), citing an estimated loss of INR 46 crore for this season.
The franchise has even asked the board whether the potential loss would need to be borne entirely by the franchises or if the BCCI will also bear a share.
In the same context, a senior BCCI official stated that franchises are being ‘penny-wise’ and ‘pound-foolish’ on their mean demands to expect compensation caused due to the delay because of a deadly pandemic.
“Franchises are being penny-wise and pound foolish. What if there was no IPL this year? Would they be making any money? There are more random questions – like who will pay for agencies appointed by BCCI, who will bear costs of match operations? Who will compensate for costs incurred for hosting practice sessions? The board is clear that there will be no compensations,” stated a senior office-bearer and administrator of BCCI as quoted by TOI.
Each franchise will earn around Rs 150 crore this IPL
The official added that the franchises will earn around INR 150 crore from this edition of IPL, and this is a bonus in the current situation. As per the board, it’s the time to help the COVID-19 victims rather mulling on garnering money.
“At a time when franchises should be wondering how to do something for COVID victims in the country, they are counting pennies. Are they not making money? Each franchise will earn around Rs 150 cr this IPL. These are absurd demands,” the BCCI member added further.
However, the official was confident enough to state that franchises are not instigating any such issues, but a board member only has been fueling the fire for personal gains, which is too unfortunate.