Picture courtesy xtratime.in
Bengaluru: Bengaluru FC (BFC) owner Parth Jindal has written to founder chairperson of Indian Super League (ISL) Nita Ambani that the club has been incurring losses in excess of Rs 25 crore every season and expressed serious concern about the “fragile financial condition” of the country’s premier football league.
“Not having ticket revenue, losing out on sponsorships as well as the additional costs due to maintaining the COVID bubble have resulted in losses increasing dramatically. Since we have joined the ISL we have been losing in excess of Rs 25 crore every season and this season the numbers are even worse,” Jindal wrote.
“Moreover, the already fragile financial health of the ISL has been worsened by the suspension of the youth subsidy usually granted by Reliance Foundation to qualifying teams and inadequate sanctions being imposed on teams flouting player salary cap rules using one loophole or another. Investing in youth is the only way Indian football is going to grow and stopping the youth subsidy is a severe blow to clubs like ours that are spending on this front,” he further stated.
“Today, I am not aware how franchises like BFC will become profitable or even break even and would love to deliberate and understand along with the other team owners what the future holds,” Jindal wrote.
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