IPL 2nd edition has faced many impediments, even before a commencement of single match. Many people wrote off IPL, stating that it can’t relish during times of recession, others doubted the possibility of IPL with issues like elections and security to be addressed. But after the recent press conference by IPL chairman, one can be assured IPL is not only truly on, it has grown massive in its financial leverage even during elusive times of recession.
Lalith Modi, was quoted saying that, IPL has generated 10,720 crores so far through contracts, without even a single ball has been bowled,which is termed as 1750 crores more than last year.
IPL director Dhiraj Malhotra explained, that laws of gravity of recession, or elections did not work against IPL and second edition will turn into a profitable proposition, for everyone involved in IPL.
IPL franchise team valuation has said to be gone up by 3700 percent jump, which has not been witnessed in any sector, explains Modi. With this alarming rise of popularity of league, all the teams are said to witness massive profits within next few years.
Kolkata Knight Riders CEO, Joy Bhattacharya in a interview to Hindusthan Times, said that it’s quite simple, that even during the times of recessions every advertiser is endorsing IPL, because they want to bank on something. Where their returns are guaranteed; IPL can play a perfect foil to accomplish it.
Big TV was about to sign a 130 crore deal, for on ground sponsorship, but it was terminated by its competitor Sony TV who is official broadcaster of the tournament. Modi was quite optimistic, that deal would be finalised, after mutual negotiations across various parties. Its shows the clout power of IPL, even in times of recession.
For first time in IPL history, it is going to be broadcasted in different multplexes across various cities in the country.IPL board is said to be in negotiations with those multiplexes owners which could be materialised pretty soon.
For franchise owners like Delhi Dare Devils, IPL is not just merely a tool to generate money, as they feel today branding has become the important aspect in any business, which can’t be simply acquired by money. And IPL offers them the perfect platform, for making money coupled with branding their company name in any means associated with their teams like merchandising etc.
IPL is indeed one of the few rose petals in the bush thorn of world economic recession and downfall.
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