The Hindu Business Line : `Advertisers cannot renegotiate World Cup deals'

Mumbai March 26 Advertisers cannot renegotiate deals in the light of India's loss to Sri Lanka at the ICC World Cup 2007, a joint statement from Indian Broadcasting Federation and Advertising Agencies Association of India said.

All contracts are bilateral and should be governed by what the parties have agreed to in writing, said the statement.

"Cricket packages when bought or sold are not necessarily linked to the fortunes of the Indian team alone. All constituents/parties to the deal therefore cannot renegotiate deals on the basis of the performance of a particular team alone and are expected to honour their respective contracts," it said.

"In committing and agreeing to any media buying deal, clients and their agencies always face either an upside or downside as the event or property unfolds.

"This is not unique to a property like cricket. Specifically, had Indian done well, no advertiser would have been asked to pay extra for that."

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