IPL 2020 | Will CSK suffer losses if no IPL this year? Guess not and here's why
Three-time champions Chennai Super Kings not sweating over the losses they may suffer if the IPL is called off as they are the only franchisee to have insurance coverage.
With the nationwide lockdown extended to May 3, the Indian Premier League (IPL) remains in suspension. The T20 extravaganza was first postponed to April 15 by the BCCI.
Except one franchisee, all other seven are sweating over the losses they are going to suffer if the IPL does not take place this year. Chennai Super Kings are unperturbed as they are the only franchisee to have taken insurance cover first up. "We bought the insurance in the first week of March," a team official told mid-day on Tuesday.
It is learnt that CSK's insurance cover is worth approximately Rs 65 to Rs 70 crore. The three-time IPL champions will be able to make a claim to the insurance company only if the IPL is called off this year.
When asked whether the Coronavirus pandemic is covered in the insurance, the official said: "Our legal department is looking into it. We are in touch with the insurance company as well. We will be able to conclude things only when the BCCI takes a decision on the IPL. Pandemic is a new thing for everyone." CSK were lucky to finalise the insurance deal before the pandemic struck. The other franchises who mid-day spoke to, said they were still in talks with the insurance companies when the IPL was postponed.
Meanwhile, the BCCI is still exploring options of holding the cash-rich league this year.
'International' Premier League?
Though the Coronavirus pandemic has put the world's cricketing schedule in limbo and with concerns raised over the scheduled T20 World Cup in Australia this October, the BCCI is preparing all sorts of possible scenarios to hold the IPL. "Shelving the tournament will be a worst-case scenario," a BCCI source told mid-day on Tuesday.
A few possibilities have emerged. The first is the July-August window, where Team India are not scheduled to play any cricket. The BCCI is well-aware that rain could play spoilsport if the IPL is to be held in India during this period. To negate the weather threat, the BCCI is ready to move the IPL abroad if needed. "The IPL has happened on foreign land in the past (2009 and the first half of the 2014 edition), so why can't it be done this time too? Everyone wants the IPL to happen, there is no doubt about it," said the source.
"All that we require is just four venues to conduct matches. Whether to have a curtailed or a full-fledged IPL is a decision that will be taken when we cross that bridge," the source added.
However, taking the IPL overseas will not be an easy decision considering the travel restrictions that the Indian government may put in place. A franchise official, though, wasn't pleased with the proposed plan of playing abroad to beat the rains. "Monsoons will not affect the entire country. South India can definitely be explored. It would be crazy to play abroad especially when saving costs would be a major challenge for all teams," the franchisee official said. Thankfully for franchises, no sponsor has backed out so far.
The window between September and October is also being explored by the BCCI if the Asia Cup is postponed. And if the T20 World Cup is postponed, then another window for the IPL opens up. "There is absolutely no harm in having the IPL if the T20 World Cup does not take place," the source said.
Franchises too are pinning their hopes on the T20 World Cup getting postponed. "That's the perfect window to conduct it. With Australia locked down for six months [till September] for foreign travellers, the T20 World Cup is surely in doubt," a franchisee official said.
The BCCI is also open to conducting the IPL after the T20 World Cup.
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