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IPL defies recession, contracted revenues up by Rs 17.25 bn
MUMBAI: The Indian Premier League (IPL) continues to be a money-spinning machine even at the time of recession. The contracted revenues for the second edition is in excess of Rs 107.9 billion, an increase of Rs 17.25 billion over the inaugural year.

"Two official partner slots are still open. We are in talks and are close to signing up one of them. The IPL has clearly emerged as the biggest entertainment property in South Asia," said IPL commissioner Lalit Modi, while unveiling the new logo of the Twenty20 tournament.

The schedule is being fine tuned with the consultation of the state authorities and two new venues - Ahmedabad and Vishakhapatnam - have beeen frozen. "Three states have already sent in their consent to the revised schedule. We are expecting the other five states also to approve our plans in a day or two," Modi said.

Dharamshala and Nagpur are in the fray to host the IPL matches. "Some matches are being moved from the home base of teams to adjust the blackout dates due to elections," said Modi.

The IPL will centralise security, taking over the responsibility which was resting with the eight team owners in their respective cities.

"Security is paramount. We will be responsible for all security and our budget has gone up by 10 per cent this year," said Modi, while dismissing reports of security concerns being raised by foreign players in the wake of the Lahore terror strike on the Sri Lankan players and the general elections in India which kick off on 16 April.

Nicholls Steyn and Associates, the official security partner, will work closely with all the state government authorities, Modi said.

The opening and closing ceremonies will be held at the D Y Patil stadium in Navi Mumbai, but the Mumbai Indians are likely to play their seven home games at the Cricket Club of India. "The opening ceremony will have a 30-minute visual extravaganza for TV and live audience," Modi said.

The IPL matches will also be shown in multiplexes and the tender will open on Thursday. "However, the multiplexes in the city in which the match is played will not show it live. For instance, a match in Mumbai can't be shown there. We are also planning to have multiple language feeds for the multiplexes," the IPL commissioner added.

The IPL will launch its campaign in 10 days across multiple platforms.

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