Economic Times reported earlier today that Indian Badminton League’s inaugural edition ended with the co-organisers Sporty Solutionz reporting 25 Crore loss! Here are some of the interesting facts and data listed in that article.
Tickets Sold, 1.2 Lakhs
Total Reach, 21.7 Million
Yearly Investment by each team, 5 to 8 Crores
Total Expenses, 85 Crores
Total Revenue, 60 Crores
Total Loss, 25 Crores
We took a closer look at the details and realized there were quite a few interesting points to note, but many of them without any clarity or transparency.
- Add two more teams
- Increase the sponsors
- Host in bigger venues
Bullish but Selling 15% ??
Ashish Chadha, the CEO of Sporty Solutionz has stated that every one is excited about the success of IBL and is bullish about the future of IBL. At the same time he has also stated that he plans to sell 15% of his stake in IBL.He has also decided not to organize IBL next year.
These contradicting statements are confusing everyone. I guess the need of the hour is for Sporty Solutionz to increase the transparency of the league by making sure all the numbers are published officially on their website with details on the revenues and expenses.