BCCI announced the suspension of IPL 2021 last week after multiple Covid-19 cases were reported within its bio-bubble
The amount is just a ballpark figure and the board is yet to arrive at an actual number considering its contractual obligations, said BCCI Treasurer Arun Singh Dhumal
Sources say that with BCCI looking to postpone the games, it's early to gauge loss in sponsorship revenue, but the broadcaster will be paid by the advertisers based on the inventory consumed so far
Industry watchers note that the suspension of IPL will have a huge impact on ad revenues with brands having to pull back campaigns and the overall market sentiment getting affected