Saina Nehwal may have high hopes that the Indian Badminton League will match up to the Indian Premier League but that might just stay a dream, for now. According to the tournament's commercial partners, Sporty Solutionz, the inaugural edition faced a loss of around Rs 25 crores. It is now going to sell a part of its equity.
"The total expenditure on the event was Rs 85 crore and we have been able to generate about 65-70% of that as revenues and the rest is loss," said Ashish Chadha of Sporty Solutionz, to the Economic Times.
The revenues include sponsorship fees from title sponsors Vodafone, media rights, merchandise sales, gate collections and a fee of Rs 3.5 crore each from the six franchises. While Chadha tried to sell the concept to around 600 investors, a very few agreed to spare a few crores.