BCB, PCB, SLC and CWI to face bankruptcy
The coronavirus epidemic has been going on for more than two months. Like any other game, cricket has also suffered the outcome of coronavirus. All events are stopped. So the boards do not have income. The consequences are going to be awful.
According to the ‘Times of India’, this year the cricket boards will suffer huge financial losses if there are no cricket tournaments or series. In the situation that is going on, it is more likely there will be no events this year. Boards such as Sri Lanka, West Indies, Bangladesh, Pakistan, South Africa could be bankrupt if something like this happens, the media reported.
Ten sports were owned by Sri Lanka, Pakistan and the West Indies Cricket Board. The contract has expired. Bangladesh Cricket Board (BCB) sold the world broadcast rights for six years in 2014. The estimated value is about 1.7 billion. BCB plans to renew the broadcasting contract this month. But coronavirus has changed the situation.
South Africa is scheduled to host a three-match series with India by the end of the year. There is doubt about this series being made on the field. All together, these boards are likely to suffer a serious financial crisis if international cricket is shut down for the next six months.
On this, an executive of cricket affairs, told the Times of India,
“If this situation continues, the rest of the cricketing world, except India or England, may fall into disrepute.”
Sri Lanka Cricket Board (SLC) has called for tenders six times in the last few months for the game. Among them was a series against India in July. This series is unlikely to happen now. That may mean that “nobody has expressed interest in it,” said the source.
Last year, the West Indies Cricket Board (CWI) concluded a broadcast deal with Ten Sports. They have not been able to make a new deal since January. The Pakistan Cricket Board (PCB) has also been in a crisis situation like Sri Lanka and the West Indies. This time the PCB is facing major losses as the Pakistan Super League (PSL) stopped in the middle.
The Caribbean Cricket League (CPL) is also unlikely to make it to the field this year. In all, the source told the Times of India about the loss of the boards, “Where will these boards make money? The only way to reduce the loss is to participate in the ICC tournament. For example, the T20 World Cup ahead. Each team gets about $5 million. If the T20 World Cup is canceled, they will not get the money. The Asia Cup probably won’t either.”
The executive added, “These boards will just be ruined. What will they do with the central contract? There is no contract this year,” he said. “Because there is no broadcast deal, no sponsor, no ICC tournament, then?”