Sunday, September 26, 2010

OC faces huge gap in Games revenue target

Amid negative publicity for the Commonwealth Games, the Organising Committee is facing a massive shortfall in meeting its revenue target. Till date, only Rs 335 crore has come to the OC's kitty against the target of Rs 1,620 crore from various sources, including sponsorship, ticket sale, merchandise and broadcast rights. While the OC has received Rs 137 crore as sponsorship money, it has got Rs 185 crore for TV rights so far.

The earnings from tickets sale was only of Rs 10.66 crore till September 20. The collection from the sale of merchandise was Rs 80 lakh only.

"There are total 10 sponsors and partners of the CWG who have committed to give Rs 390 crore as sponsorship money," said an official adding, "We are hopeful that they will fulfil their commitment."

While railways, the lead partner of the CWG, are yet to dole out Rs 100 crore as sponsorship money, other sponsors have also delayed their contributions. All sponsorship money will not be in cash as some will be in kind also, clarified the official. For example, railways is running a special Commonwealth Games train across the country and another special train to Agra for Games visitors during the sporting event as part of the sponsorship deal. Coca Cola, Reebok, Hero Honda, Amity University among others are sponsors of the Games.

Other PSUs who have committed sponsorship money are Air India (Rs 35 crore), Central Bank of India (Rs 50 crore) and NTPC (Rs 50 crore).

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