ICL look to profitable second season
The ICL is fast expanding and it's not just the number of cricketers who have joined the league that has increased, reports Anam Arsalan.Updated: Sep 17, 2008, 23:54 IST
The Indian Cricket League (ICL) is fast expanding and it's not just the number of cricketers who have joined the league that has increased. Officials of the league insist that it is gradually becoming a moneymaking venture.
The latest estimate of the top brass of the league points to substantial revenues. "This season our estimated revenue is 120 crores," said business head Himanshu Mody, though he did reveal details of how the company intends to earn that sum. Sources within the league pointed that they intended to sell advertising spots of 10 seconds for Rs 1 lakh each. If this figure is to be believed, the 120-crores figure might just be gettable.
This is separate from the fact that the league is set to spend Rs 50 crores on its rebranding exercise and marketing campaign - Cricket hai meri life and another 10 crores on renovation of the Sardar Patel Stadium in Ahmedabad.
Add to this the hefty salaries that the ICL pays out to its 90-plus cricketers and you have a sizeable expenditure on hand.
Incidentally, in March this year Mody had told HT that the league would earn close to Rs 75 crore in the fiscal gone by (April 07-March 08) and the league easily crossed the figure earning close to 80 crores.
However, despite swelling revenues, the league has no immediate plans to divestment its own stake in various teams.
"We are getting offers from various sponsors and companies, but we have yet to decide on that.
We will give it a thought after this season," said Mody.