Major advertisers in the IPL such as Godrej and Samsung today said if the alleged financial irregularities in the T20 league were proved to be true, then they may rethink over their relationship with the tournament.
"The allegations will have to be addressed and going forward, I imagine that if some of the more serious accusations are proved to be correct then we will have to re-evaluate our position," Godrej Group Executive Director and President Tanya Dubash said.
Similarly, consumer durables maker Samsung said the decision to be part of the next Indian Premier League (IPL) will be made depending on the outcome of the probe.
"That will depend on the outcome of the ongoing probe and the corrective actions being carried out at present. We will be in a position to take a decision on IPL-4 only thereafter," Samsung India Vice President C D Choi said.
According to advertising experts, IPL needs to come clean to continue to woo investors in the hugely popular league.
"Advertisers will definitely be more cautious, they would need to be assured that all is well. From a consumers' point IPL is on a strong wicket," Future Brands Managing Director and CEO Santosh Desai said.
BCCI needs to maintain the current brand valuation of the IPL by retaining investors' confidence and the advertisers, he said.
"If one of the franchisees is found of any wrongdoings, there is potential that the IPL property may get jeopardised, and investor's interest may get shaky," Desai added.
It is up to the BCCI on how it controls and reassures people and maintain the right valuation which it (IPL) currently has, he said.
Other major advertisers like Havells India and Coca Cola, however, said IPL has grown beyond any individual and will only continue to grow.
"IPL is far greater and larger than an individual.
Despite the controversy the ratings have not dipped," Havells India Vice President (Marketing) Vijay Narayanan said.
Coca-Cola, which is associated with four teams – Kolkata Knight Riders, Delhi Daredevils, Rajasthan Royals and Deccan Changers-- said the IPL has been a good platform for its brand building activities.
"We will continue to associate with cricket," Coca-Cola Chairman Atul Singh said while declining to comment on the ongoing controversy on the IPL.
BCCI had suspended IPL Commissioner Lalit Modi over alleged financial irregularities and an internal probe is being conducted.
