The World Economy is going through its worst phase due to the lockdown in World’s most parts. The markets have hit their lowest points and with them has gone down the market values of business organizations.
It’s been almost two months since PM Shri Narendra Modi announced first lockdown to bar any outdoor activities with immediate effect. The IPL, which was all set to get rolling from 29th March, was also postponed till 15th April first and then indefinitely.
With the uncertainty over IPL 2020 still looming large, the brand value of Indian Premier League and its franchises have also gone down. And if the IPL 2020 gets cancelled, Board for Control of Cricket in India (BCCI) is bound to incur heavy losses going into 2020-21 season.
BCCI earns a hefty sum of around 4000 Crores through the Brand IPL. In case of cancellation of IPL, BCCI might cut the pays of its centrally contracted players for the upcoming season.
In a recent interview, BCCI President Sourav Ganguly hinted at the possible changes in pay structures of players under different category. However, the 47-year old is still hopeful of chances of IPL 2020 as he told, “We will have to examine our financial situation, see how much money we have and take a call. Not hosting the Indian Premier League (IPL) will cause losses to the tune of Rs 4,000 crore which is huge. If the IPL takes place, we won’t have to go in for pay cuts. We’ll manage things,” the mid-day.
As per current pay structure, BCCI has divided the fixed pays in grade system. The players in A+ category earn Rs. 7 Crore annually followed by the cricketers in A, B and C category, who get INR 5 Crores, 3 Crores and 1 Crore respectively.
Recently, Afghanistan Cricket Board also reduced the payments of their coaching staff by 25%. Afghanistan Cricket Board also clarified that the pay cuts might see a hike in case the international cricket doesn’t resume by June.