Mumbai, Feb. 5
Rajasthan Royals is expecting revenues from ticket sales to surge to $1 million during IPL's third edition.
Mr Sean Morris, CEO, Rajasthan Royals, said, “We are now ready to go, and are expecting ticket sales in excess of $1 million.”
The high-end “hospitality” tickets are expected to increase ticketing revenues substantially this season.Having missed out on ticketing revenues last season with the tournament shifting to South Africa, the Jaipur franchise cricket team would now be depending on the hospitality tickets to give a boost to its bottom line.
Mr Raghu Iyer, Chief Marketing Officer, Rajasthan Royals, said: “Considering last year we did not make any money on ticket sales, this year we are hoping to make more money through the hospitality tickets, which have been pegged between Rs 20,000 and Rs 25,000. We expect to sell 750 hospitality tickets during each of our matches.”
Hospitality tickets offer lounge facilities along with a host of frills. “There would be standard packages based on these hospitality tickets across all our matches,” added Mr Iyer.
At the other end, the tickets would be pegged between Rs 150 and Rs 1,000. The team has tied up with Suvidha Infoserve as its exclusive retail ticketing partner. Suvidha Infoserve would be offering its services across 18,000 outlets to sell tickets for the seven home-matches of the team in Ahmedabad and Jaipur.
Claiming to have reaped profits during the first two seasons, the teams' company (Jaipur IPL Cricket Pvt Ltd) is not looking at raising money through a stake sale or a public issue immediately.“There is no need for additional funds through a public issue at this stage. Besides it is possibly the recent valuation of the team that has led to speculation about a stake sale in the company,” said Mr Iyer.
Last year, the team had offloaded about 11.7 per cent stake to Mr Raj Kundra, a London-based business, and Ms Shilpa Shetty. With its valuations soaring at $225 million today, Rajasthan Royals has got in investors last year and is not longer looking at an additional stake sale.CEO Mr Morris said, “There is no truth in the story that we are offloading any stake.”
This season the team is hoping to see a 50 per cent increase in sponsorship revenues, courtesy partners such as UltraTech, Paras Pharma, Kingfisher and TCS. Also for its licensing and merchandising business, it has appointed Yog Capital for distribution of products such as T-shirts and caps.Related Stories:
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