Big advertisers are betting big on cricket again, after India's dismal performance in the World Cup. Over Rs 400 crore (Rs 4 billion) worth of long-term advertising deals are on the verge of being signed by ESPN Star Sports and Star Cricket, its upcoming all-cricket channel, for the forthcoming series.

In order to hedge from the risks involved with India's performance, the sports channel has decided to go in for long-term contracts spread till March 2008. Three ad deals would include India's tour of England (July-September 2007), India's tour of Australia (December-March 2008) and also the first Twenty20 format World Cup to be played in South Africa in September. ESPN is the telecast rights holder for the tournament as well.

According to industry sources, big brands are expected to spend Rs 230-250 crore (Rs 2.3-2.5 billion) on ESPN as main sponsors and include Airtel, Reliance Communications [Get Quote], and Maruti [Get Quote], with each spending between Rs 45-50 crore (Rs 450-500 million).

ESPN is looking to rope in two more big advertisers. Handset major Motorola had also signed a Rs 30-35 crore (Rs 300-350 million) deal with the sports broadcaster, sources said.

ESPN's sales team is in final stages of its talks with six to eight brands as associate sponsors for deals estimated to be to the tune of Rs 130-150 crore (Rs 1.3-1.5 billion). "These brands will spend between Rs 15 crore (Rs 150 million) and Rs 25 crore (Rs 250 million) each and include Hero Honda, Hyundai, Nokia, Hutch and real estate developers such as DLF and Unitech," an industry source said.

On its part, ESPN's executive maintained that big advertisers were always interested in cricket, soccer and Formula One.

"India's cricket tour of England has always delivered high ratings on ESPN. Several advertisers are in touch with us for spending on cricket," an ESPN executive said.

According to media planners, about 80-85 per cent of the advertising inventory will be sold among the 12-14 big advertisers who are booking now.

"About 15-20 per cent of the inventory will be sold as 10-second advertising spots closer to the start of test matches as they will be exclusive and also the One Day Internationals," a Delhi-based media planner said.