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Business News/ Industry / Media/  Kings XI Punjab looks at 25% hike in sponsorship revenues
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Kings XI Punjab looks at 25% hike in sponsorship revenues

Expectations of an increase in revenue have been sparked by the team’s performance in the last season of IPL

A file photo of Kings XI Punjab playing in the 2012 IPL. Photo: HT (HT)Premium
A file photo of Kings XI Punjab playing in the 2012 IPL. Photo: HT
(HT)

Mumbai: Indian Premier League (IPL) franchise Kings XI Punjab, held and promoted by a consortium including Dabur Group’s Mohit Burman, Wadia Group’s Ness Wadia, Bollywood actor Preity Zinta and Karan Paul, chairman,Apeejay Surrendra Group, is looking at a 25% increase in sponsorship revenue this year.

Burman said the franchise is looking at clinching sponsorship revenue upwards of 30 crore this season.

Expectations of an increase in revenue have been sparked by the team’s performance in the last season of IPL, when Kings XI Punjab made it to the finals.

Burman said the team had already closed some sponsorships. Tata Motors PRIMA, the auto maker’s commercial vehicle brand, is the title sponsor for the team, which has also signed deals with HTC Mobiles and Britannia. These are repeat sponsors of the franchise.

“That just reinforces the kind of commitment brands have towards the game," Burman said on the sidelines of a press conference in Mumbai to announce the title sponsor for Kings XI.

The franchise is also looking at driving revenue by taking the merchandizing route and will look at the possibility of selling its team jerseys and other merchandise aimed at the Punjabi diaspora in markets outside of India.

Kings XI Punjab broke even during the sixth season of IPL and started making profits the previous season. Fraser Castellino, chief operating officer, Kings XI Punjab said that this year the franchise expects overall revenues for the franchise to increase by some 40%.

Last year overall sponsor associations for the Kings XI franchise were around 21 odd in number. This year, they expect to cap this number at 16 or 18 but with higher sponsorship revenue.

Kings XI Punjab will play their first match on 8 April 2015 against Rajasthan Royals at the MCA International Stadium in Pune.

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Published: 03 Mar 2015, 09:31 PM IST
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