Business tycoon Ness Wadia admits he and his partners incurred considerable losses in the much-hyped Indian Premiere League (IPL) premiere edition last year. Nevertheless, Bombay Dyeing heir Ness Wadia is quite optimistic this time. Wadia, who owns the Mohali IPL team, along with Bollywood star Preity Zinta and two others, says despite the slowdown the second tournament will be grander and more popular than the previous one.
Talking to FE Ness said, ?It is impossible to think of gaining from any business in a short period. I am not looking for huge profit even this year but we definitely want to connect with the community to promote cricket at the grassroots level. There is plan in place to open a cricket academy in Mohali and we will be holding talent hunts on February 16-17. Players from various parts of the country will take part in this and the best ones will secure a place in the team of Kings XI.?
There is also a move to collaborate with various cricket associations in the northern region, including Himachal Pradesh Cricket Association, Chandigarh Cricket Association and the Jammu and Kashmir Cricket Association, to popularise the sport.
When asked whether it would be tougher this year to get sponsors, Wadia said, ?Cricket is highly popular and it is a television-based entertainment game which reaches to every household. The economic slowdown will not dampen the spirit. We are in talks with various corporate groups and the list of sponsors will be released very soon.?
Without divulging the total expenditure in the last tournament, Wadia maintained his franchise has the same budget this year.
Last time round, the franchise-that had Mohit Burman, chairman of Dabur Pharma, and Karan Paul, chairman of the Apeejay Surrendra Group, as partners-scooped up the Mohali team by paying a whopping $76 million. The second round of IPL players? auction will be held in Goa on February 6.