Kings XI Punjab, the Mohali team for Indian Premier League (IPL), was bought for $76 million by Bombay Dyeing deputy MD Ness Wadia, actress Preity Zinta, Dabur India director Mohit Burman and Apeejay Surrendra Group chairman Karan Paul.
The four shareholders together formed KPH Dream Cricket Private Limited, the holding company of Kings XI Punjab.
Kings XI Punjab is eyeing sponsorship revenues while cutting down on marketing expenses.
In an interview with Anushree Bhattacharyya, Burman talks about how the economic downturn is going to upset the revenue targets of the team franchisees.
Excerpts: |
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Since Kings XI Punjab did not go for three-year sponsorship deals, how difficult has it been to retain them for the second IPL edition?
As for new deals this year, we have signed up with United Spirits while Reebok is our apparel sponsor. We will be closing two more deals in the next four to five days. Overall, we are looking at signing eight to nine sponsors this year. |
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Has the downturn in the economy forced sponsorship rates to fall? |
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Does this mean that the revenue targets have gone awry?
The fact that the IPL is held after a long gap doesn't help matters. Globally, leagues are played for eight to nine months with a short break, providing sponsors a continuous flow of events. |
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Where do you see most of your revenues coming from? |
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Do you plan to decrease the ticket prices to pack more audiences into the stadium? |
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Have you lined up your licensing and merchandising strategies? |
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Have you trimmed your marketing expense this year? |
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What role will Preity Zinta play to promote the franchisee this year?
Preity Zinta is one of the owners and she is welcome to play whatever role she desires. She has already contributed a lot last year and as the tournament gets closer, I am sure she will help us in our marketing activities. |
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What was the idea behind organising the Kings XI Punjab Cup? |
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A few franchises have partnered with TV channels in search of cheer leaders. What are your plans? |
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Are you looking at beginning a cricket academy as Ness Wadia said that the franchisee job is to acquire and groom new players? |
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Will Brett Lee's injury affect your team's performance? |
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You got England's Ravi Bopara for $450,000, three times his starting price of $150,000. Would you call this an intelligent investment, looking at the present market scenario?
Kolkata Knight Riders bought Mortaza at a very high rate. So was that an intelligent investment? Every team has to decide on their player investments, keeping many things in mind. While it is true that Bopara was expensive, it is a fact that we needed an all-rounder. And there were two other franchisees who were bidding for him. I believe Bopara would have gone for higher if other franchisees had not run out of money. |
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With the dates of the Lok Sabha polls coinciding with some of the IPL matches, how would franchisees be impacted if venues were changed?
The IPL committee had asked the franchisees to create a back-up plan. Franchisees have an option to play in one or two grounds in the nearby areas. Rescheduling, thus, will not affect the plans of the franchisees. |
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