BCCI pays the price as ODI series is cancelled
The BCCI stands to lose telecast revenue on account of the two cancelled ODIs of the India-England series, but the value of the commercial rights of the Champions League, which has been postponed for the time being, stands intact, reports Subhash Rajta.cricket Updated: Nov 27, 2008 23:32 IST
The BCCI stands to lose telecast revenue on account of the two cancelled ODIs of the India-England series, but the value of the commercial rights of the Champions League, which has been postponed for the time being, stands intact.
"We will lose telecast revenue on pro rata basis. The total value of every tour is worked out in advance, and we will lose revenue in that proportion for every match that is cancelled," said BCCI treasurer M.P. Pandove.
But isn't there provision for insuring matches? "The insurance cover doesn't apply if the match is cancelled or postponed without a ball being delivered. So the insurance cover wouldn't apply in this case," he said.
That means Nimbus, which has the telecast rights for all international cricket in India at the moment, will not be liable to pay any telecast revenue to the BCCI for the cancelled matches.
The BCCI will lose more revenue if the ECB decides to forego the Test series as well.
"We have already lost revenue for one Test as the series was reduced to two Tests from the original three Test series. Now if the Test series does not happen at al, we stand to lose more money," he said.
However, said Pandove, the commercial rights of the Champions League, bought by ESPN Star Sports for a whopping $975 millions, stands intact as it has been postponed, not cancelled.
"The board will slot it somewhere else and hence the deal stays intact. The possibility of change in terms and conditions arises if the board fails to either slot it or it is cancelled," he said.
ESS is working out how the development will affect them and does not want to make a comment before understanding the implications fully.