Chennai Super Kings owner hails IPL investment 25/03/2010 |
|
| |
| |
The owner of Indian Premier League (IPL) team the Chennai Super Kings has said that its decision to buy the franchise has been good for business.
India Cements, which in 2008 agreed to pay $91m over 10 years for franchise, believes the team has given the company “tremendous visibility” and enhanced the value of its brand.
Managing director N. Srinivasan added: “When we go for marketing or to meet distributors, they immediately recognise us – otherwise it’s difficult to get into other markets.”
Income from the cricket team helped India Cements add 133.7m rupees ($2.9m) to its revenue in the final three months of last year, according to Rupesh Sankhe, an analyst at Angel Broking.
“While other cement companies are spending huge amounts on advertisements, India Cements is saving money” because the cricket team is helping to advertise the company, said Sankhe.
Sahara Adventure Sports has just agreed to pay $370m for the team representing the western Indian city of Pune in the IPL, while Rendezvous Sports World won the franchise for Kochi with a $333m offer.
|
| Back |
| |
| |
|
|
 |
Advertisement
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
