PSU pullouts will be made up through private sector: Kalmadi Read more: PSU pullouts will be made up through private sector: Kalmadi - Top Stories -
Thursday, August 26, 2010
NEW DELHI: Some of the top PSUs may have pulled out of the Commonwealth Games in the wake of corruption allegations, but Organising Committee chairman Suresh Kalmadi is unperturbed, saying he is confident of making up the deficit through the private sector.
Kalmadi said sponsorship deals in most mega events come at a late stage and the OC is expecting to get a lot of sponsors in the coming days.
Asked if he was worried by the pullout of sponsorship money by the PSUs, Kalmadi said, "Some PSUs have withdrawn but we have to make up for it by going for private sponsorship. I am confident we will raise money in excess of target."
"I am sure private sponsorship will come. We have got response from some (private sponsors). We have around 40 days left in the Games and most of sponsorship come in last two three months. So next one month we are going to make a big effort," he said.
Kalmadi said the Games will still turn out to be revenue neutral as the OC expects to meet all the financial targets.
"Our money comes from sponsorship, TV revenue, ticket sales and merchandise. TV revenue, we are expecting to collect 50 million and we have already reached 30 million. Because of all this hullabaloo, advertising for the CWG is in focus and all the TV channels are taking part," he said.
"It is going to be a world class coverage. SIS Live, a wing of the BBC, along with Doordarshan, is doing live telecast and the world will watch. About three billion people are going to watch the Games.
"We have raised around 700 crore money and have got Rs 1000 crore from the government. It is going to be a revenue neutral Games," he added.
Kalmadi said he was responsible for only the conduct of the Games for which the government has given the OC Rs 1600 crore and not for construction delays.
"We are responsible for the 1600 crore we have got. Out of the 1600 crore, Rs 200 crore goes as taxation, 200 crore for rental of the OC building, 100 crore for the salary of the staff, another 100-150 for other things. So actually my budget is just Rs 1000 crore for organising the Games.
"My job is to bring all the people from other countries, look after their catering and stay in India, look after all the 17 sports which are going to happen and they go back in one piece. We have done in a transparent manner. I am responsible for that 1000 crore," he added.
Read more: PSU pullouts will be made up through private sector: Kalmadi - Top Stories - Commonwealth Games - Events & Tournaments - Sports - The Times of India http://timesofindia.indiatimes.com/sports/events-tournaments/commonwealth-games/top-stories/PSU-pullouts-will-be-made-up-through-private-sector-Kalmadi/articleshow/6438342.cms#ixzz0xilMDUNj
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