New Delhi: BCCI is set to suffer a financial loss to the tune of Rs 1600 crore if Lodha panel's recommendations on curtailing the advertisement breaks during the matches is implemented.
It is feared that in the wake of loss of revenue not only the smooth functioning of country's richest sporting body will be hit but also the development of junior cricket in the country.
According to BCCI balance sheet, the operative revenue currently is approximately Rs 2000 crore, a large chunk of which comes from broadcasting rights and advertisement revenues.
But if Lodha Panel recommendation, which wants the advertisements only during "lunch, tea or drinks break", then it would come down to Rs 400 crore.
BCCI SGM on Feb 19
Meanwhile, trying to figure out a way forward after being told to "fall in line" with the Lodha panel recommendations, the BCCI has convened a Special General Meeting on February 19 to discuss the far-reaching consequences of the report.
Confirming the development, a source in the Mumbai Cricket Association, an affiliate of the BCCI, said the association has received the notice for the February 19 SGM from the Board.
"The SGM has been convened to have a discussion on the implementation of the Lodha Committee report," said the source.