CHENNAI: N Srinivasan controlled India Cements, which owns IPL franchise Chennai Super Kings through CSK Cricket, is making a big bang return to the Indian Premier League after a two-year suspension.
The MS Dhoni helmed team has filled in all nine available slots on the CSK Jersey, Financial Express reports.
Sponsors range from India Cements, Nippon Paint, Hyderabad Industries, Equitas, among others, including four new sponsors, Kasi Viswanathan, CEO, CSK Cricket, told FE. “We see an overwhelming response to our franchisee from not only our old partners but from new sponsors, which shows that CSK has come back to the field to take on other IPL franchisees in a big way. Not only we were able to retain our brand icon MS Dhoni to lead the team, we also were able to retain Suresh Raina and Ravindra Jadeja in our team. We will pitch for our old team mates like Ashwin Ravichandran in the ensuing players’ auction to be held at the fag end of this month in Bengaluru.”
Of the total Rs 800 million that an IPL franchise can spend on players (through auction as well retention), CSK has spent Rs 330 million so far on three players.
“Including players hotel stay and logistics cost, we expect to incur an expenditure of around Rs 130 crore (Rs1.3 billion) during the season,” he said.
“Since CSK has huge brand equity and fan following across the country, we hope to earn better revenues through merchandise (8 to 10 products like bat, cap, t-shirts, shorts, being produced by 7 By MS Dhoni), gate entry collections, BCCI sharing of title sponsorship money (Star TV bagged the 5-year IPL media rights contract for Rs 163.5 billion recently) and from our title as well associate sponsors,” Viswanathan pointed out.
