| |
| |
 |
| |
|
| |
|
| |
|
INDIA: The Indian Premier League (IPL) is back for its third season.
The 60-game tournament runs for six weeks from March 12 to April 25. And regardless of who wins, many cricket franchisees participating in the matches are set to rake in millions of dollars.
The Kolkata Knight Riders have never made it to the semi-finals of the IPL. But its superstar owner, Shah Rukh Khan, will still be laughing his way to the bank as his team bagged at least five new sponsors this year.
Last year, it had 11, the highest among the eight franchisees in the IPL cricket tournament.
To own the team, Mr Khan had to fork out huge sums of money to the IPL cricket board, and pay for top international cricketers. And so, he has sold to advertisers every inch of space on his players' T-shirts, pants, bats, gloves and even helmets.
He said: "I have said this before. We are not a public limited company. We have limited resources. But I think we have had the nicest run as far as the economics of the team are concerned."
India's iconic cricket league started just three years ago, but it already looks set to double its earnings.
Most cricket franchisees are owned by India's top industrialists. At the outset, each paid US$50 million to IPL's cricket board to bid for the teams. That price tag has increased four fold.
The opening bid for two extra teams to join the IPL next year is US$225 million, and there is no shortage of interest.
Venugopal Dhoot, chairman, Videocon Group said: "I used to be a cricket player. I used to play with Sunil Gavaskar in Mumbai. I have a great affinity and affection for cricket. That is why I am quite sure that whatever may be the amount, I will get the team for Pune. Because I am from Pune and we want to have a team so that we can start next year."
Even an English Premier League football club is said to have shown interest in buying a team.
Nothing unites people in India like cricket does. IPL has caught the imagination of many Indians as it effectively mixes cricket with entertainment. And with millions of them wanting to watch their favourite cricketers playing together, IPL will continue to be a big money-spinning event.
- CNA/sc
|
