President of Walt Disney, APAC and Chairman of star and Disney India Uday Shankar revealed a big statement on Indian Premier League 2020.
Few days ago BCCI officials indicated that the tournament is not happening in India.They picked United Arab Emirates and Srilanka to host this tournament.The Source says that BCCI is waiting for the official news regarding world T20 before taking any final decision on IPL 2020.
The Chief of Star India Uday Shankar admitted that the market is not ready to sustain IPL this year. In a recent interview with ET now he said that he doubts if market would regain in 2 or 3 months to put thousands of crores of advertising on this season. In 2017 Star India acquired global media rights of IPL for 16,347 crores for the period of five years.
”IPL is an expensive tournament.We have paid a huge amount in order to acquire the rights. For it to break even for us, for the stakeholders the advertising activity needs to be really substantial. Given the kind of economic shock we have been seen during these times, I’m not sure if market is ready to support and sustain IPL this year, “as per Shankar’s statement.
He also added, ” We don’t know when exactly IPL will happen. Right now anything can happen because monsoon season has started and the grounds will be under covers. Hopefully when monsoon ends, also if the virus gets diffused we should get back to these talks.”
Later the Managing Director of Amul Mr. RS Shodhi declared that ” A lot of categories went through financial pressure, Which might continue to happen. So, if Indian Premier League happens there will be a lot of bargaining, advertisers will expect to get maximum exposure with minimum spends. IPL revenue might not be the same.”
However, BCCI Looking on all possible options to host the tournament behind all obstacles,even if it means playing the tournament in empty Stadium. Indian Premier League is likely to shifted abroad this year. United Arab Emirates are the first choice because they have hosted the Indian Premier League before.