DLF, the brand that has been synonymous with the Indian Premier League (IPL), may pull out of the Twenty20 competition.
DLF, the brand that has been synonymous with the Indian Premier League (IPL), may pull out of the Twenty20 competition. The buzz in the market and IPL circles is that the Delhi-based real estate firm, which has been associated with the league since its inception in 2008, will not renew its contract for the title sponsorship. DLF’s five-year contract ends with the current edition of the championship.
Not just DLF, the continued association of other sponsoRslike Hero Moto Corp, Citi, Volkswagen, Vodafone, Karbonn Mobile and Royal ChallengeRsis also in doubt. Their contracts will be up for renewal and IPL insideRsclaim there will be a tendering process for the new deals. Given the prevailing market realities, how many would come forward to be associated with the league will have to be seen.
There is intense speculation that DLF will not renew the contract although it has the first right of refusal for the title sponsorship. The company had shelled out Rs200 crore for the five-year deal but it may have to come out with a bigger offer to continue its association. But the real estate sector has been in a bad shape for quite some time and the slowdown could force a pullout.
A DLF official said it is too early to comment about the deal but refused to confirm or deny about the speculation. “We’ve the first right of refusal. We will see how it pans out,” said Sanjoy Roy of the company. There are, however, indications that the company would stay away if the price is increased.
One notable development this year has been that the commentatoRsno longer shout ‘DLF maximum’ every time a six is hit. Earlier, every six used to be referred only as a DLF Maximum. The commentatoRshave confirmed to this paper that instruction have not been given to attach each six with the sponsor’s name. “This year, we’ve been told to take the brand’s name for one or two times,” said a commentator of repute.
Having recently sold the media rights for Rs3850 crore (for six years), the board’s marketing think-tank has been upbeat. The BCCI’s marketing manageRsseem to be of the view that the value of their properties is much more than what they currently attract. Some brands pay about Rs25 crore per year while another brand had signed a three-year deal for about Rs20 crore. IPL COO Sundar Raman declined to comment. “We don’t have to react what the media speculates,” he said and added the process for the sponsorship deals will be initiated at the right time.
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