Big money for football
The All India Football Federation (AIFF) is set to sign a R 700 crore, 15-year deal with IMG Reliance in New Delhi on Thurday, taking on the company as its commercial partner for all properties including the national team. Dhiman Sarkar reports.sports Updated: Dec 09, 2010 02:20 IST
The All India Football Federation (AIFF) is set to sign a R 700 crore, 15-year deal with IMG Reliance in New Delhi on Thurday, taking on the company as its commercial partner for all properties including the national team. This agreement is likely to be the biggest outside cricket in India.
“It is time football generated this kind of money. I am very excited about this development,” said Kushal Das, the AIFF secretary who was formerly the chief financial officer of the International Cricket Council. Das had also spent 12 year as finance director with IMG, India and Korea.
AIFF president Praful Patel and Shankar Adawal, president corporate affair Reliance Industries, are likely to be the main signatories to the deal whose signing will be followed by the annual general meeting.
According to reports, the Board of Control for Cricket in India's (BCCI) deal with Sahara India is worth approximately Rs 495 crore for three-and-a-half-year.
The BCCI also has an agreement with Bharti Airtel for sponsorhip of home series worth approximately Rs 3.3 crore per match for three year till September 1, 2013. And it has sold television rights for nearly Rs 2000 crore for a four-year period.
An AIFF official who declined to be named since he isn't authorised to speak to the media, said IMG Reliance will match the approximately Rs 170 crore that Zee Group, the AIFF's earlier marketing partner, had promised for the next five year.
For each of the 10 year beginning from 2015, IMG Reliance will pay Rs 50 crore or 25 % of the net revenue whichever is more.
The new partner will also pay R 70 crore the AIFF needs to pay Zee to sever the 10-year agreement at halfway stage, the official said. In 2005, the AIFF had sold its marketing rights for approximately Rs 270 crore.
According to the official, the fate of television rights for the on-going I-League will be decided after the contract is signed. “We will have to see whether they want us to call for fresh tender or go with the ones already submitted.” Two channels from Kolkata are in the fray.