least one franchisee
Chennai, June 3 At least one franchisee of the India Premier League (IPL) has crossed break even numbers even as the inaugural 45 day, 59 match cricket tournament, launched by the Board of Control for Cricket in India (BCCI), wound to a close last week.India Cements Ltd (ICL), owner of the Chennai Super Kings franchise that was runner up in the trophy final, has made a marginal profit beating its own expectations by a year.ICL had bid $91 million or about Rs 360 crore for owning the Chennai Super Kings team over a 10 year period.When the concept took off about four months ago, India Cements had expected that the actual break even may happen in the second or third year. Unexpectedly, the cash registers have been ringing from the word go.A consultant to the IPL had said that to do well, IPL had to eyeballs on the screen and bums on the seats! That was a cheeky reference to television advertisement revenue and stadium collections. If the initial figures are any indication, they seem to have done just that.Speaking on its successful run in the maiden edition of the IPL, Mr Rakesh Singh, Joint President, (Marketing), India Cements, said ICL had spent about Rs 70 crore on the whole exercise so far.
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