New Delhi: Star Sports has told advertisers who had bought airtime on the now-suspended 14th edition of the popular Indian Premier Leage (IPL) cricket tournament to pay only for the matches that have been played, sources said.
Star Sports has bagged the IPL’s television and digital rights for 2018-2022 for Rs 16,348 crore, agreeing to pay about Rs 54.5 crore per game in a 60-match season. Only 29 games were played before the pandemic halted this year’s IPL.
It had sold slots during the match to advertisers for the season.
The broadcast major has approached its title sponsors and advertisers, which had bought airtime, informing them to pay for the played matches and an option to continue the deals when BCCI decides to resume the tournament for this season at a later stage. “Given the unprecedented times, Star India has reached out to all their advertisers informing them and their agencies to only bill for the inventory consumed so far. The contingency plan gives brands the first preference to continue the ad deals if and when BCCI decides to resume the league at a later stage,” said a source close to the development.
Even the suspended IPL T20 is resumed by the BCCI, the advertisers will also have the flexibility to opt out from their ad deals.
“This will enable brands to capitalise on the second burst and the transparency will ensure a minimum adverse impact on their business objectives,” the source added.