IPL 2020 likely to face short-term losses in advertising revenues: Rajasthan Royals owner

Amidst the ongoing coronavirus pandemic, the fate of the Indian Premier League 2020 (IPL 2020) continues to hang in balance. Even though several reports indicate that the Board of Control for Cricket in India (BCCI) is considering several measures and are looking at a September-November window for the tournament, no official announcement has been made yet. Moreover, Rajasthan Royals co-owner Manoj Badale is of the opinion that the ongoing delay in IPL 2020 will make the event come under some advertisement pressure.

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IPL 2020: Rajasthan Royals co-owner talks about revenue prospects

Manoj Badale, who co-owns Rajasthan Royals alongside media tycoons Amisha Hathiramani and Lachlan Murdoch, recently interacted through an interview with the Scoreboard (Financial Times). In the interview, he stated that IPL 2020 is likely to come under short-term pressure from the advertisers and sponsors. The short-term pressure could very well lead to short-term losses in terms of revenue generated through advertisements.

The Rajasthan Royals co-owner, however, also indirectly emphasised the importance of IPL 2020 to those brand advertisers. He stated that in order to launch a brand or a new product in India, there is no better way to advertise it among audiences than IPL. The top official of the Rajasthan Royals franchise also said that brand of the IPL tournament will continue to grow in the future.

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According to InsideSport, several advertisers have already backed out of their IPL rights deal and commitments for IPL 2020. The report further indicates that the Rajasthan Royals are one of the affected franchises who have suffered financially due to the same. Moreover, a report by Duff and Phelps has indicated that IPL 2020 will face losses up to $1 billion due to the ongoing uncertainty.

BCCI’s stance on IPL 2020

IPL 2020 was originally intended to launch on March 29 before the Board of Control for Cricket in India (BCCI) indefinitely postponed the tournament. According to Mumbai Mirror, BCCI will organise IPL 2020 between September-November if the proposed T20 World Cup in Australia gets postponed to next year. The International Cricket Council (ICC) is scheduled to take a call on the fate of T20 World Cup in July.

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Image credits: Rajasthan Royals Twitter