Most Indian Premier league (IPL) team franchises are yet to make profits, despite the prodigious amount of money riding on the cricket tournament promoted by the Board of Control for Cricket in India (BCCI).
Domestic and foreign players have made fortunes out of the tournament, which is in its seventh season this year. The national cricket board, too, has earned a sizeable amount from the franchises and key sponsors.
For example, IPL sponsors will pay the BCCI about Rs 200 crore in 2014, including Rs 80 crore from Pepsi as the title sponsor. Sports marketing experts believe that, ideally, a sporting property like the IPL should start making profits after the first five years, but that has not happened with most teams.
Text: Digbijay Mishra, Business Standard
Image Courtesy: PTI