Managing An Event Goes Like This,
Indian Premier League = Businness & Sport where only sport is seen from outside and many people are decieved by that factor.
Any league has three main sources of income namely media receipts, gate receipts and sponsorships. Under IPL, these three streams are categorized under central and local. The Central revenues are through IPL.
A Central
1. Media rights – To be shared equally amongst franchises after removing IPL’s share. 2. 2. Sponsorship rights (IPL sponsors) – 60% of the amount collected to be distributed equally amongst the franchises.
B Local
1. Sponsorships – Team sponsorship revenues are the most variable and are dependent on the marketing skills. For example, teams like India Cements have marketed their teams based on the format of IPL – where sponsorships are sold on categories. ICL’s main sponsor is Aircel. In contrast, the other team of Deccan Chronicle will have team partners. These partners will have ownership of the team. For example, in case of an entertainment partner, anything to do with entertainment from cheerleaders to fours and sixes will be seen by that party.
2. Gate receipts – Are anticipated to be a major source of revenues. 20% of tickets are to be allocated to IPL
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its all about event management rite