IPL Final on Nov 10, Chinese sponsors intact, COVID replacements allowed
New Delhi: The Indian Premier League's Governing Council on Sunday decided to retain all its sponsors, including Chinese mobile company VIVO, and approved COVID-19 substitutions in the event to be held in UAE this year.
The tournament will be played from September 19 to November 10 at three venues in the UAE -- Dubai, Sharjah and Abu Dhabi -- subject to government approval, which is expected in the next couple of days.
"The 53-day tournament will witness 10-afternoon matches starting at 15:30 IST while the evening matches will start at 19:30 IST," stated a release from the BCCI.
"Standard Operating Procedure (SOP) is still being prepared but there would be any number of COVID replacements this year," a BCCI official told PTI.
A lingering issue put to rest on Sunday was Chinese sponsorship of the IPL.
It became a bone of contention after violent clashes between the Indian and Chinese troops in eastern Ladakh in June. India lost 20 soldiers in the showdown, causing outrage across the country after which the BCCI promised to review the deals.
"All I can say is that all our sponsors are with us. Hopefully you can read between the lines," an IPL GC member told PTI on conditions of anonymity after Sunday's meeting.
As IPL title sponsor, VIVO pays around Rs 440 crore per year, a five-year deal that ends in 2022. It would have been difficult for the Board to get new sponsors at a short notice given the current financially difficult climate.
In another major decision, the IPL GC also approved the women's IPL, a development first reported by PTI after speaking to BCCI president Sourav Ganguly on Sunday.
"Women's T20 Challenge will also take place in the UAE and will comprise three teams with four matches to be played during the IPL Playoff week," stated the Board's press release.
Forced out of India due to the rising coronavirus case count here, the IPL will allow unlimited COVID-19 replacements considering the delicate health safety situation across the globe. India's case load has surpassed 18 lakh with over 38,000 deaths.
"The final will be played on November 10 as it enters the Diwali week making it lucrative for the broadcasters," the IPL GC member said.
It is expected that the squad strength in terms of playing members will be 24 for the eight franchises.
"Also the BCCI has received presentations from a Dubai based group on creating a medical facility in the UAE. The BCCI is also in talks with the Tata Group for creating a bio-bubble," the official said.
Major Decisions (Formal clearance by next week)
1. Tournament Duration (53 days)
2. Dates: September 19-November 10
3. Women's IPL approved
4. Squad Strength: 24 players
5. Any number of COVID-19 replacements
6. Tata Group and Dubai-based medical group to give presentation on creating bio-secure bubble.
7. SOP will be handed over to franchises in next 7 to 10 days.
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Los Angeles county wildfires could be costliest in US history, early estimates say
Los Angeles, Jan 11: The wildfires that erupted this week across Los Angeles County are still raging, but already are projected to be among the costliest natural disasters in US history.
The devastating blazes have killed at least 11 people and incinerated more than 12,000 structures since Tuesday, laying waste to entire neighbourhoods once home to multimillion-dollar properties.
While it's still too early for an accurate tally of the financial toll, the losses so far likely make the wildfires the costliest ever in the US, according to various estimates.
A preliminary estimate by AccuWeather put the damage and economic losses so far between USD 135 billion and USD 150 billion. By comparison, AccuWeather estimated the damage and economic losses caused by Hurricane Helene, which tore across six southeastern states last fall, at USD 225 billion to USD 250 billion.
“This will be the costliest wildfire in California modern history and also very likely the costliest wildfire in US modern history, because of the fires occurring in the densely populated areas around Los Angeles with some of the highest-valued real estate in the country,” said Jonathan Porter, the private firm's chief meteorologist.
AccuWeather factors in a multitude of variables in its estimates, including damage to homes, businesses, infrastructure and vehicles, as well as immediate and long-term health care costs, lost wages and supply chain interruptions.
The insurance broker Aon PLC also said Friday that the LA County wildfires will likely end up being the costliest in US history, although it did not issue an estimate. Aon ranks a wildfire known as the Camp Fire in Paradise, California, in 2018 as the costliest in US history up to now at USD 12.5 billion, adjusted for inflation. The Camp Fire killed 85 people and destroyed about 11,000 homes.
The LA County wildfires, which were fuelled by hurricane-force Santa Ana winds and an extreme drought, remained largely uncontained Saturday. That means the final tally of losses from the blazes is likely to increase, perhaps substantially.
“To put this into perspective, the total damage and economic loss from this wildfire disaster could reach nearly 4 per cent of the annual GDP of the state of California,” AccuWeather's Porter said.
In a report Friday, Moody's also concluded that the wildfires would prove to be the costliest in US history, specifically because they have ripped through densely populated areas with higher-end properties.
While the state is no stranger to major wildfires, they have generally been concentrated in inland areas that are not densely populated. That's led to less destruction per acre, and in damage to less expensive homes, Moody's noted.
That's far from the case this time, with one of the largest conflagrations destroying thousands of properties across the Pacific Palisades and Malibu, home to many Hollywood stars and executives with multimillion-dollar properties. Already, numerous celebrities have lost homes to the fires.
“The scale and intensity of the blazes, combined with their geographic footprint, suggest a staggering price tag, both in terms of the human cost and the economic toll,” Moody's analysts wrote. The report did not include a preliminary cost estimate of the wildfire damage.
It could be several months before a concrete tally of the financial losses from the wildfires will be possible.
“We're in the very early stages of this disaster,” Porter said.
