[Type the document title]

Elson
[Type the abstract of the document here. The abstract is typically a short summary of the contents of the document. Type the abstract of the document here. The abstract is typically a short summary of the contents of the document.]

[Type the company name] [Type the company address] [Type the phone number] [Type the fax number] [Pick the date]

Introduction The Indian Premier League (IPL) is a professional league for Twenty20 cricket championship in India. It was initiated by the Board of Control for Cricket in India(BCCI), headquartered in Mumbai, and is supervised by BCCI Vice President Rajeev Shukla, who serves as the league's Chairman and Commissioner. It is currently contested by nine teams, consisting of players from around the world. It was started after an altercation between the BCCI and the Indian Cricket League. In 2010, IPL became the first sporting event ever to be broadcast live on YouTube in association with India times. Its brand value is estimated to be around US$2.99 billion in fifth season. However, the league has been engulfed by series of corruption scandals where allegations of cricket betting, money laundering and spot fixing were witnessed.

League organization The winning bidders for the eight franchises were announced on 24 January 2008. While the total base price for auction was US $400 million, the auction fetched US $723.59 million. On 21 March 2010, Pune and Kochi were unveiled as the two new franchises for the fourth edition of the Indian Premier League. The base price was $225 million. While Pune was bought by Sahara Adventure Sports Group for $370 million, the Kochi franchise was bought by Rendezvous Sports World Limited for $333.3 million. The process was to have been completed on 7 March but was postponed by two weeks after many bidders and the BCCI objected to stiff financial clauses. The second franchise auction fetched total $703 million.

Teams Team Name Chennai Super Kings City Owner(s) GurunathMeiyappan India Cements Captain Mahendra Singh Dhoni Head Coach

Chennai

Stephen Fleming

Deccan Chargers

T Venkattram Reddy Hyderabad Deccan Chronicle Group New Delhi GMR Group Mohali

Kumar Sangakkara Darren Lehmann

Delhi Daredevils Kings XI Punjab

VirenderSehwag

Eric Simons Michael Bevan

Ness Wadia, PreityZinta, Adam Gilchrist

Dabur, ApeejaySurendera Group Shahrukh Khan Red Chillies Entertainment JuhiChawla, Jay Mehta MukeshAmbani Reliance Industries Subrato Roy Sahara

Kolkata Knight Riders

Kolkata

GautamGambhir

Trevor Bayliss

Mumbai Indians

Mumbai

Harbhajan Singh

Robin Singh

Pune Warriors India

Pune

SouravGanguly

Dermot Reeve

Rajasthan Royals

Jaipur

Lachlan Murdoch Emerging Media Rahul Dravid ShilpaShetty, Raj Kundra Daniel Vettori

Monty Desai

Royal Challengers Vijay Mallya Bangalore Bangalore UB Group Kochi Tuskers Kerala (Defunct) Kochi Cricket Private Ltd

Ray Jennings

Kochi

Prize money The IPL offers a total 25 crore in prize money

Champions: 10 crore Runner-up: 7.5 crore Third place: 3.75 crore Fourth place: 3.75 crore No prize money for remaining teams

Sponsorships India's biggest property developer DLF Group paid US$50 million to be the title sponsor of the tournament for 5 years from 2008 to 2012. Other year sponsorship agreements include a deal with motorcycle maker Hero Honda worth $22.5-million, one with PepsiCo worth $12.5-million, and a deal with beer and airline conglomerate Kingfisher at $26.5-million. Revenue and Profits The UK-based brand consultancy, Brand Finance, has valued the IPL at $4.13 billion (Rs 18,998 crore) in 2010. It was valued at US$2.01 billion in 2009 by the same consultancy. There are disputed figures for the profitability of the teams. One analyst said that four teams out of the eight made a profit in 2009. While The Times said that all but Kings XI Punjab made a profit. In 2010, the IPL expects to have 80 official merchandising deals. It has signed a deal with Swiss watchmaker Bandelier to make official watches for the IPL. According to a recent study by a UK-based brand valuation consultancy, the brand value of the IPL has more than doubled to USD 4.13 billion (over Rs 18,000 crore) from USD 2.01 billion in 2009. The franchises have been a part of this growth. The Mumbai Indians have a brand value of USD 79.13 million which places them at the top of the table. The csk franchise has moved up the ladder with a valuation of USD 63.58 million. Kolkata Knight Riders co-owned by Bollywood actor Shahrukh Khan comes in third with a valuation of USD 57.59 million and the Rajasthan Royals, co-owned by Bollywood actress ShilpaShetty comes in last with USD 33.78 million. The Royal Challengers Bangalore, owned by Vijay Mallya, is ranked fourth with a valuation of USD 55.13 million and is followed by the, Delhi Daredevils (USD 40.85 million) and Kings XI Punjab ( USD 35.75 million). The Deccan Chargers are at the sixth with a valuation of USD 38.76 million.

Rank

Franchise

Brand Valued

Mumbai Indians

$79.13 m

Chennai Super Kings

$75.58 m

Kolkata Knight Riders

$57.576 m

Royal Challengers Bangalore

$55.13 m

Delhi Daredevils

$40.85 m

Deccan Chargers

$38.76 m

Kings XI Punjab

$35.75 m

Rajasthan Royals

$33.78 m

Controversy about tax exemption A controversy was triggered when the Centre gave away potential revenue of 45 crore by granting exemption to International Cricket Council (ICC) on the revenue generated from the recently concluded World Cup Cricket Tournament. In connection the PIL filed by Shiv Sena leader Subhash Desai seeking a direction to the Maharashtra government and the Income Tax Department to recover entertainment tax from IPL. He also asked the petitioner to make SharadPawar a party if he wanted to make allegations against him as he headed the apex cricketing body two years ago. In August 2011, Finance minister Pranab Mukherjee said Tuesday that the Income Tax Department is probing allegations of financial irregularities and "criminal activities" against some of the franchisees in the Indian Premier League (IPL) In June 2011, the Chennai High Court said it could not appreciate the tax exemption to the Indian Premier League and sought a response from Tamil Nadu government on the issue. The PIL filed by Vasan, alias SakthiVasan, had contended that the matches conducted by the IPL are for the entertainment of the public. He submitted that the tickets for the IPL matches were being sold at exorbitant rates and the higher range of tickets are purchased by the rich and the affluent. The petitioner said the Income Tax Department was the authority for regulating the tariff for entertainment, which he said would include the IPL matches, but the department failed to regulate the (IPL) tariff.

Chennai Super Kings Chennai Super Kings (often abbreviated as CSK) is a franchise cricket team based in Chennai, Tamil Nadu that plays in the Indian Premier League. Founded in 2008, the team is currently captained by Mahendra Singh Dhoni and coached by Stephen Fleming, a former New Zealand cricketer. The team's home ground is the M. A. Chidambaram Stadium (often referred to as Chepauk) located in Chennai. Chennai Super Kings is the most successful team in the Indian Premier League team so far. The team has won the IPL title twice in succession (2010 and2011) and reached the play-offs every season. They were also the first Indian team to have won the Champions League Twenty20. The leading run-scorer of the side is Suresh Raina, while the leading wicket-taker is RavichandranAshwin. The brand value of Chennai Super Kings in 2012 was estimated atUS$75.13 million, making them the most valuable franchise in the IPL.

Mumbai Indians Mumbai Indians is a franchise cricket team representing the city of Mumbai in the Indian Premier League. The team is one of the eight founding members of the IPL in 2008. Mumbai Indians are currently led by Harbhajan Singh and coached by Robin Singh. They are one of the main teams in the city, together with clubs like the Mumbai cricket team and football club Mumbai FC. The team is owned by India's biggest conglomerate, Reliance Industries, through its 100% subsidiary India Win Sports. Mumbai Indians is ranked No.2 in the IPL with a brand value of $57.13 million in season four of IPL after Chennai Super Kings (who are the no. 1 with brand value of $70 million). Royal Challengers Bangalore Royal Challengers Bangalore (often abbreviated as RCB) is a cricket team based in Bangalore that plays in the Indian. The team is currently led by Daniel Vettori and coached by South African Ray Jennings. The team is owned by Vijay Mallya, through his flagship firm UB Group.The director of the team is SiddharthMallya. RCB plays all its home matches at the M. Chinnaswamy Stadium. The franchise has been one of the most successful and consistent in the IPL having reached the semis/play-off's every season apart from 2008 and 2012. It was the only team in the world to have qualified for and played in all the three seasons of the Champions League Twenty20 tournament, until in 2012, RCB came fifth in the points table, and failed to qualify for either the playoffs or the Champions League Twenty20 2012

Delhi Daredevils Delhi Daredevils is the Delhi franchise of the Indian Premier League in cricket. The franchise is owned by the GMR Group. Founded in 2008, the team is currently captained by VirenderSehwag and coached by former South African cricketer Eric Simons. They play all their home matches at the historic Feroz Shah Kotla Ground. During the franchise auction for the Indian Premier League teams, the GMR Group purchased the Delhi Daredevils for $84 million.

Deccan Chargers Deccan Chargers known in short as DC is a cricket franchise based in the city of Hyderabad in the Indian Premier League. They, after finishing last in the first season of the IPL, won the second season held in South Africa in 2009, under the captaincy of former Australian wicket-keeper batsman Adam Gilchrist. Gilchrist was the captain of the team for the first three seasons of the IPL. From the fourth season, Kumar Sangakkara has been leading the team and Cameron White has been playing as his deputy. The team is coached by Darren Lehmann, former Australian cricketer.

INCOME STATUS IPL has lost its sheen, half-filled cricket stadiums, plunging television ratings, corruption charges. All is not well with the league once valued at $ 3.67 billion in 2010. The leagues value has come down to $ 4.13 billion as per an independent consultancy, Brand Finance. The organizers have struggled to run matches to packed stadiums, despite the launch of a new team- Pune warriors India. The television ratings have also plummeted, the ratings are down by 9 % from last year and 27% from the Inaugural year in 2008. Consequently, sponsors Tata Motors and Godrej have already pulled out. One major international sponsor who told the Financial Times, on condition of anonymity, that their business renewed only after fierce negotiations that secured "a good deal on our terms". DLF, a property developer which paid about $50m to become the IPLs largest sponsor in 2008, said: "If bids for the next five years are beyond a certain threshold limit, we might consider not continuing with the title sponsorship contract." IPL was dreamt up by marketers to re-brand this most genteel game for a younger audience, the shorter three-hour format won huge audiences when the IPL launched in 2008. Caught in the hype, Sony paid roughly $1.6bn for 10-year broadcasting rights.

Corruption charges are a major reason for this eclipse. Firstly it was the chairman, Lalit Modi, ousted because of alleged corruption charges against him in 2010. Then, a team from southern state of the country was sacked on the same grounds. The fallout resulted in the ouster of a state minister. These entire events have dealt a severe blow the image of the game. General public has shied away from the game; people have started losing interest in the game once touted as a brilliant idea. This year edition of Indian Premier League has been far away from the expectations and hype it has created. The (in) famous opening ceremony, Sachin Tendulkar injury were some of the major reasons to dissuade public away from the extravaganza. The only saving grace has been the performance of players on the field. This edition of IPL has been the most competitive. We are half way through the tournament and almost all the teams are strong contenders for the title. The IPLs 11 franchise owners, including billionaire Mukesh Ambani, brewer and airline tycoon Vijay Mallya and Bollywood star Shahrukh Khan, also remain enthusiastic. But these are mostly rich cricket aficionados able to treat the league as a hobby albeit an expensive one. "There are two teams that make a profit, and one that breaks even," says Praveen Chakravarthy, a Mumbai-based investment banker who has examined the leagues business model. "The rest lose money." in 2008 and its fifth edition in 2012, the Indian Premier League (IPL) and its franchisees have built a market of half-a-billion dollars on sponsorships alone, a performance thats remarkable, especially since it comes in a period marked with economic strife. If the sense of fulfillment could be calculated, it would run into several billions of dollars far exceeding those earned by the organisers and franchisees in the past four yearsat the end of the fifth season, says N Srinivasan, President, Board of Control for Cricket in India. His is not the only voice heralding the IPLs coming of age. In fact, the chorus began building when Rajasthan Royals Ajinkya Rahane scored an impressive 98 in the first week of the game and listless fans got up and took note. Indeed, they werent left wanting for cracking action on the ground after that. Business associates, on whose shoulders rests the burden of the survival of the game, are part of the cheering choir, alongside fans. IPL has established itself as the single biggest bonanza for viewers as well as advertisers on television this year, says Divya Gupta, CEO, Dentsu Media, the agency that manages ad spends of advertisers such as DLF, Toyota, Canon, Unicharm and Panasonic. Arguing that advertisers initially stayed away from IPL because of the poor performance of the Indian team on earlier international tours, Sudha Natrajan, CEO, Lintas Initiative Media, says the apprehension soon wore off. IPL-5 has been a late bloomer. A few of our clients decided to stay away from the event initially but several moved in as the tournament progressed, says Natrajan, whose agency is

one of the leading media buyers managing ad spends of marketers such as MRF, Voltas, Maruti, Bharat Petroleum, ITC, Sony India, LIC and Bombay Dyeing, among several others. Gupta and Natrajan represent those whose initial apathy towards IPL led a section of observers to write off the fifth season as a nonstarter. Clearly, the script changed along the way. Apart from the advertisers, the team owners are also on a high this year. Mohit Burman, co-owner of Kings XI Punjab, says IPL-5 has been a game-changer commercially. We will certainly turn profitable this year, he says. Burman credits the turnaround to a renewed enthusiasm from sponsors (such as Videocon d2h, ACC Ltd, McDowells No. 1, Kingfisher, Coca Cola, Max Healthcare, among several others) besides an unprecedented surge in ticket sales. On the ground Brimming stadiums have been the biggest boost for IPL this year. The packed stadiums this year should silence all doubting Thomases, says Srinivasan. According to estimates gathered from franchisees and their associates, close to two million tickets were sold this year, translating into a windfall of around Rs 200 crore. The rush was unprecedented. We havent seen this kind of response for any event, not even for the previous IPL matches, says Ashish Hemrajani, founder and CEO, bookmyshow.com, an online ticket booking platform. Bookmyshow.com was the ticketing partner for Mumbai, Delhi, Punjab, Rajasthan and Pune. It also sold tickets for the opening, the play-off and the final matches. More than 90 per cent of the matches were sold to capacity this time, he says. According to Hemrajani, ticket sales through his platform were 35 per cent higher for Mumbai, 30 per cent for Delhi, 100 per cent higher for Rajasthan and almost four times more than that of last year for Pune (last year, the team didnt have its own stadium). Punjab saw the highest-ever ticket sales this year across its stadiums in Mohali and Dharamshala, he says. Chennai Super Kings CEO Rakesh Singh says though they were not allowed to sell close to 12,000 seats this year as the Tamil Nadu municipal authorities had sealed three stands in the MA Chidambaram stadium in Chennai, yet their income from ticket sales has been the highest so far. We didnt give discounts this year, he says. The price of tickets, in fact, ranged from Rs 200 to Rs 25,000. Franchisees such as Delhi, Mumbai and Kolkata, which found a large number of takers for premium tickets, are learnt to have grossed maximum sales of around Rs 30-35 crore each. The organisers argue it wasnt merely the game on display that drew the crowds. It was the outcome of a well-thought-out strategy. Besides differential pricing to pull in fans across income groups, the organisers also spent money on big marketing campaigns around ticketing this year, says Raghu Iyer, CEO, Rajasthan Royals. IPL itself ran a campaign projecting the event as a sports-cum-entertainment-cum-outing opportunity for the entire family and all this

helped. More than the income, the surge in ticket sales establishes the pull of the event and that, to us, is a bigger achievement, says Sundar Raman, CEO, IPL. In the air Broadcast rights are the single largest source of revenue for IPL (see box). It is not surprising, therefore, that the IPL fraternity was thrown in a tizzy when reports of falling viewership and advertisers deserting the platform started pouring in. A closer look at the viewership figures, however, reveals that it was a misguided scare. Television rating points have a limited utility in measuring the popularity of an event. In case of IPL, the reach of the game, the buzz it generates, need to be taken into account while calculating its efficacy. And on those counts, it still remains the largest and most powerful event on television, says Dentsus Gupta. Data sourced from the industry show that ever since IPL took off, MAX, the events channel of broadcaster Multi Screen Media Pvt Ltd (MSMPL) that owns the rights to IPL, has had almost 50 per cent share of TV viewership, and has been way ahead of the market leader in the Hindi general entertainment space, Star Plus. This year, close to 160 million people watched IPL on TV. If we leave Satyamev Jayate aside because it is simulcast across many channels, no programme on cable and satellite TV can match that kind of reach, says Natrajan. The initial negative sentiment and the refusal to cut the ad rate from a steep Rs 4.5-5 lakh per 10 seconds pulled down MAXs ad income by around Rs 50-80 crore from last year to around Rs 700-750 crore this year. Indeed, our earnings will be lower this year but we will still be profitable, says Rohit Gupta, president, Network ad sales, MSMPL. Gupta maintains IPL has been profitable for the channel since the second year itself. Media buyers maintain the event would have earned the channel more than Rs 2,500 crore in the five years on an outgo of less than 2,000 crore. With digitisation kicking in, we are expecting our subscription revenues to soar and that should make our balance-sheet healthier. Besides TV, IPL was streamed live on the internet and mobile phones by Times Internet Ltd and Apalya Technologies, respectively, and both rights-holders say the response was more than exciting. So far, we have got more than 100 million views this year against 72 million last year, says Rishi Khiani, CEO, TIL. Apalya claims to have caught 11 million subscribers for 65 matches alone and CEO Vamshi Krishna Reddy claims viewers spent 17 to 20 minutes every day watching the matches on their mobiles. In between Not wanting to miss the action completely, a lot of marketers who could not afford to buy advertising on MAX bought sponsorships from franchisees. This year, almost all franchisees are likely to earn anywhere between Rs 35-50 crore from sponsorships against last years Rs

15-Rs 25 crore, says a senior executive of a leading team. Even the Pune teams jerseys are choc-a-bloc with sponsors logos though they entered the market late, he says. Even as the league matures and stabilises commercially, controversies have become a constant factor in its evolution. Interestingly, the organisers, even the advertisers and sponsors, seem unfazed by them. IPL is not simply a sport where reputations matter. It is a sports-cum-entertainment event. Like in the case of films, controversies have only helped in building the buzz around it and strengthened its recall among audiences, says the chief marketing officer of a leading advertiser on IPL not wanting to be named. Going by this, BCCI may have a lot to thank to the Enforcement Directorate, the Income Tax authorities and even the Sports Minister.

Although no official figures were available on how much expenditure was incurred in organising the event, some TV channels reported that about Rs 45 lakh were spent on felicitating Bollywood superstar and KKR co-owner Shah Rukh and his team. Some critics also felt that the celebrations were a little overboard as it was not the World Cup that KKR had won but only a domestic club tournament. Veteran CPI leader Gurudas Dasgupta lambasted the Trinamool Congress-led Bengal government for spending huge sum of money on such celebrations. "I don't know what the celebrations were for, I was being told that gold necklaces were given to the players. According to me, IPL is no cricket at all, T20 cricket is no cricket. It was neither a World Cup nor IFA Shield or Ranji Trophy win," Dasgupta said. Former India football captain Baichung Bhutia, however, backed the Bengal government's move. "I don't see anything wrong in celebrating KKR's win. Cricket sells in India and people thoroughly follow IPL. I don't see any reason why people are criticising the felicitation ceremony. It was a good gesture on the part of Bengal government," he said. Shah Rukh also defended Mamata, saying that there was nothing wrong in organising a ceremony to celebrate a grand victory. 'Bengal loves you' was the message which was inscribed on the medal which Mamata presented to the entire KKR team. On its part, the Cricket Association of Bengal also honoured the KKR players with gold chains.

People of all ages thronged the Eden since morning to join the grand celebration of KKR who bagged their first title in five appearances after beating two-time defending championsChennai Super Kings in the final on Sunday. The 67,000-capacity Eden resembled a mini Kolkata with the galleries packed to the hilt well before the team entered their home ground. The programme at the Eden Gardens began at 10.30am with singers belting out Shah Rukh chartbusters, from 'Dard-e-Disco' to 'Main Hoon Don' as the crowd danced to the numbers, waving KKR flags. Despite the hot and humid weather, the crowd waited patiently for the players to enter the stadium. Venky Mysore, the CEO of KKR team and coach Trevor Bayliss were among those on the crowded makeshift dais just outside the VIP Gate number five. Team owners Shah Rukh Khan, Jay Mehta and Juhi Chawla arrived at the ground at around 11.45 pm. There were also a bevy of Trinamool Congress ministers, party leaders and CAB officials who were waiting with bouquets and garlands as they jostled for the limelight on the makeshift dais.