| The Indian Broadcasting Foundation (IBF) and the Advertising Agencies Association of India (AAAI) wish to issue this joint statement to clarify the industry bodies' position. |
| All contracts are bilateral and should be governed by what the parties have agreed to in writing. In committing & agreeing to any media buying deal, clients and their agencies always face either an upside or downside as the event or property unfolds. This is not unique to a property like Cricket. Specifically, had India done well, no advertiser would have been asked to pay extra for that. |
| Cricket packages when bought or sold are not necessarily linked to the fortunes of the Indian Team alone. All constituents/parties to the deal therefore cannot renegotiate deals on the basis of the performance of a particular team alone and are expected to honor their respective contracts. |
| For IBF-AAAI Joint Committee: |
| sd/- Naresh Chahal Director-Finance IBF sd/- Dara Acidwalla Secretary-General AAAI |
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