Board to let struggling IPL teams tap into reserves abroad
sports Updated: Jun 03, 2016 07:16 IST
NEW DELHI: It is no secret that the IPL franchises are bleeding money. Despite the league having run for nine seasons, even those franchises that have been part of the event from its inception in 2008 are struggling to make profits.
Already Mumbai Indians, Delhi Daredevils and Kings XI Punjab have taken advance against their Net Central Rights (NCR) revenue share from the BCCI.
The Board has now come up with a plan to soften the blow for the teams. It has amended its bylaw that would allow IPL franchises to invite teams or play abroad without requiring clearance from the BCCI’s working committee.
Interestingly, the Board made the amendment at its AGM in November, though the decision was made public only recently.
The IPL teams can now play exhibition games abroad and can cash in through the sale of tickets and merchandise and rope in sponsors. The US and the United Arab Emirates will be popular destinations due to the presence of huge expatriate populations. Team owners are also looking to tap into territories like Europe, which too has a sizeable population from the sub-continent.
There have been reports that Royal Challengers Bangalore, Rising Pune Supergiants and Mumbai Indians have expressed interest in holding exhibition ties in the US, a market seen having lot of potential.
Last year, two private leagues were successfully held in the US and the Gulf. Cricket All Stars League, launched by Sachin Tendulkar and Shane Warne, held three matches in front of big crowds at New York, Houston and Los Angeles.
The Masters Champions League, the other T20 event for retired cricketers in Dubai, also drew big crowds.
First Published: Jun 03, 2016 07:16 IST