MUMBAI: Star India’s Rs 163.475 billion ($ 2.55 billion) winning bid for IPL’s global television and digital rights has boosted the confidence of team owners that that profitability is now well within reach.
Each franchise can expect over Rs 2 billion from the central revenue pool from this year, in large part due to Star India’s media rights deal with the BCCI.
Hemant Dua, CEO, Delhi Daredevils, who claims that sponsorship revenue has increased by about 30% this year, says that after ten years all the teams would start to make money. “Either end of FY19 or by end of the next fiscal, all teams would turn profitable,” Dua told Financial Express.
The franchise has renewed its team sponsorship deal with Daikin for the next three years, while Suzuki Gixxer and Nature Fresh have come on board as principal sponsors. Reliance Jio will also be associated with the outfit for multiple seasons. Other brands that have signed on include Coca Cola, Nerolac and DTDC. The franchise claimed to have made a profit of Rs 90 million in FY18.
“This time, we have closed sponsors well in advance, which is a validation of the value they see in their association with Delhi Daredivils,” Dua told Economic Times.
