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IPL franchises to earn huge profits: Modi

Published: Friday, April 25, 2008, 3:35 [IST]
 
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Karachi: Acknowledging the global response that the inaugural Twenty20 tournament in India has received, IPL Chairman Lalit Modi has claimed that some of the franchisees could make huge profits in the first edition itself.

''The Indian Premier League (IPL) is a very robust business model. In fact, some of the owners will end up making profits in year one itself,'' Modi told 'Geo News'.

He pointed out that the overseas players will be paid according to the number of matches they are available for the tournament while there would be tax deduction on their income and they would get the full amount bid on them in the players' auction.

''It does not matter if they play or not. If they are available and even if they are on the bench they will get paid for the match,'' he stated.

''As the players are earning their money in India, they are subject to the bilateral trade treaty conditions,'' he said.

Modi further cleared out the revenues which the various franchisees would make from the IPL.

''Team owners get 80 per cent of broadcast revenues, 60 per cent of sponsorship revenues, 100 per cent of team sponsorship revenues, 80 per cent of ticket revenues, 87.5 per cent of all merchandising revenues and 100 per cent of all hospitality revenues,'' Modi said.

However, Modi ruled out any possibility that the format which has attracted people from all walks of life could turn in favour of the betting mafia.

''Since the IPL is being organised by an independent body of the BCCI, we have the anti-corruption and security unit of the International Cricket Council taking care of things and keeping an eye on things in the tournament,'' he added.

UNI

Read more about: lalit modi, twenty20, t20, ipl
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