Kings XI Punjab is yet to recover from the shock, its break even target having gone haywire after the Board of Control for Cricket in India (BCCI) terminated its franchise contract in October 2010 for breaching ownership rules. The Bombay High Court came to its rescue, allowing it to be a part of the Indian Premier League (IPL) after submitting $20.7 million in bank guarantee.
Having paid $76 million to acquire the IPL franchise, Kings XI Punjab is now on recovery course. Sponsorship deals have been stitched and the Mohali franchise is hoping to improve its performance this year.
In an interview with Indiantelevision.com‘s Ashwin Pinto,Kings XI Punjab COO Col Arvinder Singh says the franchise should break even this year and post a revenue growth of 15-20 per cent.
Excerpts: |
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Q. Could you talk about how the IPL as a property has grown year on year?
With time it has also amassed worldwide audiences. The league has grown beyond the realm of cricket and is considered as a complete entertainment package encompassing the entire family. |
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Q. Kings XI Punjab had expected to break even in the fourth year. Has this happened or did the BCCI termination play spoilsport?
Not everything goes as per plan. Ups and downs are a part of every business and they should not deter from chasing our dreams - that is to get the Cup home this year. We are constantly working towards creating a team which is extremely valuable and as partners, we will give all it takes - time, energy and resources for the love of the game.
And yes, the arbitration process is yet to conclude. |
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Q. What revenue growth do you expect this year and who are your sponsors? |
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Q. Emirates has not renewed its deal with you. Is the economic slowdown forcing brands to look at the cost of association more carefully compared to earlier years? |
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Q. IPL ratings fell last year, making it more expensive for marketers and sponsors. Do more efforts need to be taken in terms of marketing the event to consumers? |
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Q. Has the licensing and merchandising area grown? |
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Q. A sports marketing expert noted that the IPL has become more an icon-led rather than a franchise event. This means that if icons like Sehwag and Dhoni do not perform, viewership will get affected as people mainly want to watch icons. Do you agree with this?
For a more concrete connection with the fans, the franchise must establish itself as a custodian of the values and attitude that the region represents. This kind of association will withstand any player movement. |
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Q. If you look at the IPL so far, which three players have been the most value for money in terms of performance for the franchise? |
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Q. On the field, Kings XI Punjab did not fare well in the previous couple of seasons. How much has this affected your brand valuation?
We have been able to establish ourselves as a local team; we also have a loyal fan following in our catchment and also have a very huge fan following internationally. We have been growing for the past four seasons and we can only see it growing further this year. |
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Q. What strategy was followed during the two player auctions and were you affected by not being able to retain some of them?
We believe that we have the required strength in our team to take us all the way. Based on lessons learnt last season, we have enhanced the team strength with players like Azhar Mehmood and James Faulkner. We also have a great mix of experienced and young domestic players. |
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Q. What are Kings XI Punjab‘s marketing efforts this year?
Currently one of the unique activities undertaken by us is our association with Indraprastha All India Sports Foundation for the ‘Cricket Champs‘ reality show. This initiative aims at nurturing youth to develop skills which not only will make them successful cricket captains but also help them in their personal endeavours. |
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Q. Is Kings XI Punjab able to do activation during the off-season once the IPL gets over or is non availability of players an issue? |
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Q. With the Big Bash league doing well in Australia, the debate about club versus country has again raised its ahead given how financially lucrative it is to play for clubs. How do you see things shaping up going forward? |
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