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IPL-2 revenues may rise by Rs 1.8k crore - Printable Version

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IPL-2 revenues may rise by Rs 1.8k crore - Sathish - 03-12-2009

MUMBAI: In a bid to overcome the security issue, the Indian Premier League (IPL) has decided to coordinate security internally for IPL 2 and pick up the tab.

The security cost will see a 10-fold hike this year over last year, sources said. Last year, each franchise had its own security. The contracted revenues for the second edition is said to be in excess of Rs 10,000 crore, an increase of about Rs 1,800 crore over the inaugural year, according to sources.

This year, given the impending elections, IPL has decided to centralise security, taking over the responsibility completely. Earlier, the eight owners ensured security for their respective teams in their respective cities.

Confirming the 10-fold hike in security budget, IPL commissioner Lalit Modi said it was necessitated due to various reasons. “IPL is the biggest entertainment property in south Asia. Of course, security is a big issue. Last year, each franchisee had to pick up the cost, along with the security provided by the state governments. This time round, we are looking at a different model,’’ he said. Modi said that since each team used different security agencies, co-ordination was a major issue.

“Nichollas Steyn & Associates, a South African company, will handle the security for IPL this year,’’ Modi said. The agency will work closely with all state governments on ensuring tight security conditions for the players and at the venues.

The same firm was in place when the Champions League took place last year and also provided security for the ICC Champions trophy. Last year too, IPL had used the same agency.

Refusing to talk numbers, Modi admitted that though IPL would take a hit on the cost front, it “has all been factored in. This year, our profitability will be higher by 25% as compared to last year. Our revenues are going up. We have factored everything in’’, he added.