INDIA BUSINESS WORLD - FEBRUARY 1st - FEBRUARY 15th - 2008
DLF BAGS IPL TITLE DEAL FOR RS 200 CR, SPONSORSHIP RIGHTS FOR FIVE YEARS, WITH 40-CR FIRST-YR SURETY
Real Estate developer DLF has bagged the Indian Premier League’s (IPL) title sponsorship rights for Rs 200 crore for five years, with a first year commitment of Rs 40 crore.
The other parties that participated in the auction were the World Sport Group (WSG), on behalf of Hero Honda Motors at Rs 30.6 crore per annum, and Percept D’mark, which bid at Rs 30.15 crore per annum. The other interested bidder, 21st Century Media, decided to withdraw as it did not want to reveal on whose behalf it was bidding. The IPL governing council accepted its withdrawal.
Though DLF has signed a five-year commitment, it can be re-negotiated after three years, depending on the performance of the domestic league. The floor will, however, remain at Rs 40 crore per annum. “I am happy to have India’s leading real estate developer as our title sponsor, as it shares a common vision with BCCI to make IPL one of the finest circuiting leagues in the world,” IPL chairman and commissioner Lalit Modi said.
It is exciting to have an eclectic mix of elite Indian businessmen, Bollywood personalities and corporates as our allies, working collectively as one to ensure the success of IPL,” Mr. Modi said.
“At DLF, we emphasise on nurturing and recognising talent, and this is one more achievement towards nurturing professional talent for cricket in India. This game has mass appeal across the country, and both cricket as well as DLF will grow hand-in-hand,” DLF group executive director Rajeev Talwar said.
The next step for IPL will be the player auction, which is scheduled to take place on February 20 through the open bid process in association with IMG, the world’s leading sports media and entertainment agency. As many as 85 international and Team India players are up for auction among the eight franchises.
In fact, the player auction will also be aired on Australian broadcaster Network 10, which has bagged the five-year exclusive rights for IPL in that country, on February 28 while Indian broadcast rights holder Sony Max will show only a capsule. Network 10 bagging the IPL rights for the Australian territory is the first overseas deal announced by WSG.
Australian legends Shane Warne and Glenn McGrath, with current stars Ricky Ponting, Adam Gilchrist, Matthew Hayden, Michael Clarke and Brett Lee, are all confirmed to play. The tournament will also feature the world’s best International players, including India’s Sachin Tendulkar, South Africa’s Jacques Kallis, Sri Lanka’s Muttiah Muralitharan, Pakistan’s Shoaib Akhtar, West Indies’ Chris Gayle, New Zealand’s Stephen Fleming, among many others. TEN will exclusively broadcast all 59 matches over 44 days from April 18-June 1. The deal also includes exclusive replay rights.
The inaugural season of IPL will showcase a total of 59 matches, providing broadcasters and in-stadia spectators with 177 hours of live entertainment, which will also be viewed by a significant international audience. All matches will be in the afternoon and evening to coincide with the prime time on television and provide a convenient time for the stadium audience.
IPL is expected to kick off on April 18, with the first matches expected between Shah Rukh Khan’s Kolkata franchise and Vijay Mallya’s Bangalore team at the Chinnaswamy Stadium in Bangalore. The league will feature eight franchises and will run for 44 days. Each franchise will play all others on a home-and-away basis with seven matches at home. The top four franchises in the league will contest in the semi-finals, and the winners will meet in the grand final in Mumbai.
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