As the uncertainty around the Indian Premier League 2020 (IPL 2020) season continues, Rajasthan Royals owner Manoj Badale feels that the league and team will witness some pressure from the advertisers.
In an interview with Scoreboard (Financial Times), Badale said the current uncertainty around the IPL 2020 and the overall economic gloom will make the league face some heat from the advertisers and sponsors.
“No question you are going to see short term sponsor and advertiser pressure” said Badale.
There are reports doing the round that advertisers have already backed out of some of the commitments they had made on IPL 2020 season with teams and Star Sports on-air inventory. Rajasthan Royals is also one of the team which has suffered according to the information available with InsideSport.
According to a Duff and Phelps, the corporate finance consultant, the value of the IPL will be eroded by $1Billion because of the current status, however the IPL league valuations almost doubled in last 5 years.
Badale who is the biggest shareholder in the Rajasthan Royals and owns the team with the likes of Lachlan Murdoch, son of media tycoon Rupert and chief executive of Fox Corporation feels that notwithstanding the bump this year, the future IPL growth prospects stay as robust as it was.
“If you want to launch a brand or a new product in India, there is no better advertising platform than the IPL, the growth of brand IPL will continue” he says.
ICC’S official decision on the T20 World Cup has been postponed until next month.
John Stephenson
john@cricketinvestor.co.uk
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