Is IPL’s season two jinxed? First, the home ministry put a spoke in the wheel and now sponsors have started retracting. On Wednesday Pepsico announced its association with two IPL teams, but on the flip side, has pulled out of a reported Rs 50 crore deal with the DLF IPL. That’s not all; several sponsors are re-evaluating their position after the tournament’s shift to South Africa.

The bubbly has fizzled out of IPL’s coffer, so no pouring partner for season two. But ‘Yem Yes Dhoni’ from Chennai will continue to endorse Pepsi in this IPL season.

Punita Lal, Executive Director of Pepsico India, said, “We are already with the ICC and can’t have it all. We have to decide where to put the money. We have put it with two teams that we are happy with.”

Well, it might be aimed at the T20 world cup and there’s no doubt that the fact that it’s aimed in time for all the advertising frenzy of the Indian Premier League, is a clear indication that even the cola giant wants to cash in on the IPL fever.

Sandeep Singh Arora, Associate VP of Pepsico, said, “We are currently involved with two brands but remain committed to MI and CSK.”

However, even as Lalit Modi says that the contracted revenue of IPL has gone up by Rs 1725 crore, several sponsors have pulled out of their deals.
Even Religare and Virgin are no longer associated with Daredevils. But that would not hurt as much as Bajaj Allianz and HDIL deserting the Royals and the Knights respectively.
As title sponsors they had paid Rs 6 crore each.

Joy Bhattacharya, Team Director of Kolkata Knight Riders, said, “We have lost a couple but that is more due to their personal circumstances. I think we have done well in terms of adding new sponsors. I wouldn’t want to comment on numbers.”
Meanwhile, there are others like Reebok, associated with as many as four teams, who have also cut back. Havells India has cancelled Rs 7.5 crore of on ground advertising. Though they had set aside Rs 30 crore for the on air promotions, they are now rethinking it.

But perhaps it’s not all gloom and doom. With new brand ambassadors like Shilpa Shetty and King Khan Shahrukh, marketing whizz-kids are plotting new strategies to rake in the moolahs.
Source – profit.ndtv.com