IPL 2020: Franchise owners worried about incurring losses after coronavirus outbreak
Indian Premier League (IPL) franchises are concerned over the effect of the spread of Corona virus. It is reported that the spread of Corona Virus across major cities of India could harm the gateway revenues for the IPL teams.
Team owners are worried about the potential losses they would incur because of the pandemic.
Reassuring the owners, BCCI president Sourav Ganguly has confirmed that the IPL will go on as per schedule despite the disease threat.
An executive of IPL governing body said, “Between now and March 29 (when IPL starts), there are about three weeks left. The answer to this question depends on how these three weeks pass. If a newspaper headline tells me in the morning that Corona virus is spreading, then it’s going to play on my mind.
As a result, the champions will get $1.36 million instead of $2.72 million. The prize money for the runners-up has also been halved.
“The franchises are all in good health. They also have multiple ways like sponsorships to bolster their income. Hence the decision on prize money taken,” the Press Trust of India quoted a senior BCCI source as saying.
Each of the eight franchises will also have to shell out $68,119 to the state association for each game it hosts, up from $27,197.