India Cements Ltd is the owner of Chennai Super Kings franchise in Indian Premier League (IPL). You know that Chennai Super Kings franchise became Runners Up in IPL 2008. The officials of Chennai Super Kings may be not happy that they could not become champion but the officials of India Cements Ltd have every reason to celebrate. They have seen some healthy revenue in the opening season of IPL.
The Hindu wrote:
India Cements Ltd (ICL), owner of the Chennai Super Kings franchise that was runner-up in the trophy final, has made a marginal profit beating its own expectations by a year.
ICL had bid $91 million or about Rs 360 crore for owning the Chennai Super Kings team over a 10-year period.
When the concept took off about four months ago, India Cements had expected that the actual break-even may happen in the second or third year. Unexpectedly, the cash registers have been ringing from the word go.
This news will surely make many people related to IPL very happy. IPL was perhaps a billion dollar gamble and in the first season, it has surely met the expectations. Now, in the coming days, we will hear more about the financial condition of the other IPL clubs.
IPL has become successful to catch the attention in its inaugural season. It has finished few days ago. Now, people are waiting for next season. I am also happy to see this domestic league. First time i see many youngsters in any season. Chennai Super Kings captain MS Dhoni played well. Carry on. you will be the next hero in India.
Posted by: kamrul hasan | June 7, 2008 6:14 AM | Permalink to Comment