 "Kings XI Punjab see hike in sponsorship revenue in IPL 8")
On the back of the stupendous performance last season(2014), Indian Premier League (IPL) franchise Kings XI Punjab is confident of registering increase in sponsorship revenue in the upcoming season in 2015 (IPL 8). Kings XI took IPL 7 by storm by finishing runners-up.
" Performance on the field increases your bargaining power. We were runners-up in the seventh edition of the IPL in 2014, this will work in our favour and we hope to clinch some better deals by February next year for the upcoming edition in 2015," said Fraser Castellino, chief operating officer, Kings XI Punjab in an interaction with Business Standard.
"All our sponsorship deals were for one year and we will start the negotiation process very soon. We would negotiate with the existing sponsors of the franchise for CL T20 like Air Asia, HTC Mobiles, Tata Motors Prima, Flying Machine etc," he added. He also expects better ticket sales and significant increase in merchandise sales as a result of better on-the-field performance. IPL cricket franchises' major sources of income are sponsorship fee, merchandise sales and ticket sales while their bulk of expenses include franchise fee to the board, players' cost, etc.
The team is co-owned by actress Preity Zinta, industrialist Ness Wadia, Mohit Burman and also Karan Paul, chairman of Apeejay-Surrendra Group and Delhi based company Root Investment. Meanwhile the team has collaborated with AIDS Healthcare Foundation (AHF), the largest global AIDS organisation providing medical care to AIDS affected patients through its India office, registered as India Cares. Castellino shared, "HIV menace has engulfed the State of Punjab significantly due to widespread drug addiction. We have collaborated with AHF India to undertake steps to prevent any further escalation of the drug-HIV epidemic in Punjab and nearby states.
We have also produced a video "Say No To Drugs", which will be disseminated through our digital portals in order to build awareness on this topic. We support AHF's global campaign and believe that greater awareness and testing among these key populations will be required to attain the 2020 goal."
" Performance on the field increases your bargaining power. We were runners-up in the seventh edition of the IPL in 2014, this will work in our favour and we hope to clinch some better deals by February next year for the upcoming edition in 2015," said Fraser Castellino, chief operating officer, Kings XI Punjab in an interaction with Business Standard.
"All our sponsorship deals were for one year and we will start the negotiation process very soon. We would negotiate with the existing sponsors of the franchise for CL T20 like Air Asia, HTC Mobiles, Tata Motors Prima, Flying Machine etc," he added. He also expects better ticket sales and significant increase in merchandise sales as a result of better on-the-field performance. IPL cricket franchises' major sources of income are sponsorship fee, merchandise sales and ticket sales while their bulk of expenses include franchise fee to the board, players' cost, etc.
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It is worth mentioning that the franchise on the back of brilliant performances turned profitable in the seventh season, in 2014; owner KPH Dream Cricket has reported profit of Rs 78.01 lakh for the first time since the start of the extravaganza in 2008. Castellino also added, "To register profit simply means how you efficiently manage costs and revenue. We managed the players' cost very well last season which worked in favour of us. We spent Rs 43 crore in last season, against the total of Rs 60 crore, which was allowed to us for the acquisition of players."
The team is co-owned by actress Preity Zinta, industrialist Ness Wadia, Mohit Burman and also Karan Paul, chairman of Apeejay-Surrendra Group and Delhi based company Root Investment. Meanwhile the team has collaborated with AIDS Healthcare Foundation (AHF), the largest global AIDS organisation providing medical care to AIDS affected patients through its India office, registered as India Cares. Castellino shared, "HIV menace has engulfed the State of Punjab significantly due to widespread drug addiction. We have collaborated with AHF India to undertake steps to prevent any further escalation of the drug-HIV epidemic in Punjab and nearby states.
We have also produced a video "Say No To Drugs", which will be disseminated through our digital portals in order to build awareness on this topic. We support AHF's global campaign and believe that greater awareness and testing among these key populations will be required to attain the 2020 goal."