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Essentially Group Limited
11 February 2008
For Immediate Release 11th February 2008
ESSENTIALLY GROUP LIMITED
("Essentially" or "the Group")
ESSENTIALLY BENEFITS FROM IPL AND CHANGE IN THE INDIAN CRICKET MARKET
Essentially Group (RIC: ESN), the AIM-listed provider of sports marketing,
management and media services, through Athletes 1 Group, part of its athlete
management division, with offices in London, Mumbai and Melbourne, is pleased to
announce the signing of 14 of the 50 players to the BCCI controlled Indian
Premier League 20/20 cricket competition for 2008 and beyond. This coupled with
the ongoing representation of Anil Kumble, India's high profile captain, marks
Essentially's focussed strategy of increasing the Group's presence in the
business of Indian cricket, by far the single largest and most lucrative market
in the cricketing world.
The Indian Premier League
The Group has recently placed 14 out of the 50 foreign players on 3 year
contracts in the forthcoming high profile Indian Premier League ("IPL") 20/20
tournament due to start in India in March 2008. The 8 team tournament has been
underpinned by a 10 year television deal with Sony TV, at a reported value of
$1billion USD. Clients whose contracts Essentially negotiated to play, include
leading international cricket stars Herschelle Gibbs, Graeme Smith, Jacques
Kallis and Mark Boucher (South Africa), Scott Styris and Daniel Vettori (New
Zealand), Shivnarine Chanderpaul (West Indies), Chaminda Vaas (Sri Lanka),
Justin Langer (Australia) and Shoaib Akhtar (Pakistan). Essentially has initial
committed revenues in excess of seven figures in USD over the initial three year
term. These figures will be further enhanced as the recently awarded franchises
bid for the services of the players beyond the initial IPL basic retainer
contracted in 2007. The awarding of the franchises raised a further reported
$720m USD, with individual franchise prices ranging from $111m to $67m USD per
team. The additional franchise specific contracts will be negotiated in the
next ten days as the franchises vie for the services of the players.
Captain Fantastic
Anil Kumble is regarded as India's greatest spinner of all time - not only in
terms of wickets but also by being a member of the winning team on more
occasions than any other bowler in the history of Indian cricket. Having
recorded 600 wickets in 125 test matches, and 337 wickets in 271 one day
international matches, Kumble is regarded as the one of the most prolific
cricketers in the world. Athletes 1 India will continue to manage all media and
endorsement rights for Kumble worldwide. His success as captain with recent
test wins over Pakistan and Australia will enhance his commercial appeal.
Successful contracts negotiated by Essentially with ING Vysya and Manipal
Education endorse his growing appeal.
Commenting on the progress made in the Indian cricket market, Bart Campbell, CEO
of Essentially said:
"The great pace of change and development of cricket within the Indian market
has provided significant new opportunities for Essentially to capitalise on, all
of which have been realised at an organic level. By providing 30% of the total
market of the worlds best non-Indian players to the IPL we have demonstrated the
reach of our cricket business. We are now actively seeking to use the foothold
we have achieved to offer our full range of services to the successful franchise
winners. The BCCI has taken the first step towards the wholesale
commercialisation of the game and we are uniquely placed as a Group, with
unrivalled expertise in cricket, to assist.
Our penetration into this exciting market has enhanced the visibility of
earnings for our athlete management division following our successful
involvement in the IPL 20/20 tournament starting in India shortly. It will
further stimulate opportunities at a wider level for the Group. These
initiatives place Essentially Group at the heart of the growth of the business
of cricket in India and will have a positive impact on our 2008 and beyond
numbers".
For further information please contact:
Essentially Group Ltd. Tel: +44 (0)20 7820 7000
John Byfield / Bart Campbell
Buchanan Communications Tel +44 (0) 207 466 5000
Bobby Morse / Susanna Gale / Christian Goodbody
This information is provided by RNS
The company news service from the London Stock Exchange