New Delhi: Bizarre, irrational or simply business? Even before a ball has been bowled on the pitch, the Indian Premier League has been creating a frenzy of sorts, and it's all about the money.
And while the players don't mind the extra bucks, does it really make sound business sense for the franchisors?
Vice Chairman & MD, India Cement, N Srinivasan of the Chennai IPL Team says, "We believe that the stadiums will be packed. We believe we will get excellent crowd and that we are not looking at this as some kind of proposition where we will lose money."
And like any other venture, the financials in this case too, have been done to the very last.
MD Deccan Chronicle Holdings , PK Iyer of the Hyderabad IPL Team, "The $107 million that we have committed that we would pay, has already had contra-entry with broadcasting rights. So remove the $107 million. And the player expenditure of $20 million is also being capped. I don't think it's going to be different with gate collections and everything else."
Branding is a challenge and franchisors will have to spend a sizeable amount on this.
President Branding, Reliance India, Koushik Roy, of the Mumbai IPL Team, says, "One single team which connects naturally first to your catchment and your neighbourhood, and then should actually go on to somewhere break the loyalty."
With ad spots on official broadcaster Sony being sold for as much as Rs 2.5 lakh per ten seconds — this IPL tournament has something or the other for every stake holder involved. At least to start with.
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