Mukesh Ambani’s Reliance (RIL) is looking for a gestation of 3 years for a return on its investments in the Indian Premier League (IPL). Its sponsorship partners will be the main contributors to the revenue.
The company is looking to align with about three to four major partners. Reliance bid the highest amount in the IPL team auctions with an investment of $111.9 million.
After the announcement of the brand identity and logo of the Mumbai team, now christened Mumbai Indians, Kaushik Roy, president, brand strategy and marketing communication, Reliance, said, “The investments by the company chiefly consist of the amount spent in the auction and in taking up the venue, Mumbai. Although we are trying to get the best out of the inaugural year for IPL, the gestation could be fairly stated as about 3 years.”
The main revenue streams for Reliance through IPL are ticket sales and partner sponsors. Twenty per cent of the ticket sales would remain with IPL, while the balance would be earned through franchises. Team sponsorship, however, would form the bulk of the revenues, said Roy.
“In the longer run, we hope to build better contact with rural India through IPL as cricket as a sport is loved and lived here,” said Roy.
The company is looking to align with about three to four major partners. Reliance bid the highest amount in the IPL team auctions with an investment of $111.9 million.
After the announcement of the brand identity and logo of the Mumbai team, now christened Mumbai Indians, Kaushik Roy, president, brand strategy and marketing communication, Reliance, said, “The investments by the company chiefly consist of the amount spent in the auction and in taking up the venue, Mumbai. Although we are trying to get the best out of the inaugural year for IPL, the gestation could be fairly stated as about 3 years.”
The main revenue streams for Reliance through IPL are ticket sales and partner sponsors. Twenty per cent of the ticket sales would remain with IPL, while the balance would be earned through franchises. Team sponsorship, however, would form the bulk of the revenues, said Roy.
“In the longer run, we hope to build better contact with rural India through IPL as cricket as a sport is loved and lived here,” said Roy.
