Star would have lost Rs 3,500 crore this year as it had won the bid to broadcast the event for five years. | File photo: PTI
The Indian Premier League (IPL), which starts from September 19 in the UAE, will not only help the financials of all the stakeholders but, more importantly, also lift the spirits of the nation, Ness Wadia, owner of Kings XI Punjab, said.
“The Board of Control for Cricket in India (BCCI) and the teams are putting a lot of efforts to make the league a success. The event will positively impact the mood and sentiment of the nation, which is under a lockdown since March,” Wadia said.
If the matches were not held, then the teams, the broadcaster, the BCCI, and other stakeholders would have taken a massive financial hit. Star would have lost Rs 3,500 crore this year as it had won the bid to broadcast the event for five years.
Wadia said the IPL 2020
edition would be the most watched IPL event ever as a large part of the population was under lockdown.
“There is no fresh content on TV and people are now looking forward to the games to bring freshness, optimism and cheer. I am quite sure this will be the most-watched TV event ever,” Wadia said.
The sponsors and advertisers are also looking forward to the event as 40 per cent of TV advertising revenue is related to IPL. As the matches will be held without spectators, the BCCI
is expected to compensate for lack of gate sales to the teams. The gate sales are about 6-7 per cent of a team’s revenues.
The response from cricket stars is also good with Kings XI batsman Glenn Maxwell confirming that he would be available for the matches to be held in UAE. “It’s a win-win deal for everyone -- especially for the spectators.”