If test cricket is a gentleman’s game then the Indian Premier League (IPL) T20 series is the younger rebellious brother. For the tea drinking, cucumber-sandwich eating traditionalists that frequent Lords, the IPL T20 is seen as a digression from the original test cricket game and an insult to the sport itself.
However, for the unpretentious the IPL is considered to be the most exciting form of cricket and is defiantly the flashiest in more than one way.
It’s flashy because aggression trumps defensive caution; at least one boundary is pulled away every over but the limited balls and high pressure forces the batmen to take risks, resulting in crowd pleasing catches and run outs.
The IPL is also flashy because of the high profile society members that own the clubs and the million dollar sponsorship deals. This article outlines the business of IPL cricket, the big money and the high rollers.
What’s the IPL Appeal?
Now in its fifth edition, the IPL cricket games are still growing in both local Indian and global spectatorship, thanks to the stardom of international IPL players, both young and upcoming as well as current stars and old legends, such as Morne Morkel, Ricky Ponting, Chris Gayle and Sachin Tendulker.
There are nine teams or franchises with larger than life owners of the Bollywood and corporate world, which add a touch of glamour to the game. In fact, the IPL is largely modelled around the English Premier League (EPL) and the National Basketball Association (NBA) and is complete with gorgeous IPL cheerleaders.
Let’s Talk IPL Money
The IPL is a winning cash cow and has gained much interest from the most influential corporations and richest individuals in India and around the world. The IPL was initially initiated by the Board of Control of Cricket in India (BCIC) as direBigct competition to the Indian Cricket League (ICL).
Most of the IPL profits that are made through TV rights, sponsorship and advertising.
The rights to control the original eight IPL T20 Premier League franchises for a period of ten years were sold for an astonishing total of $1.749 billion five years ago. Leading Bollywood film stars such as Rukh Khana and Preity Zinta were part of the consortia.
The highest amount was for the Mumbai Indians IPL franchise, which was purchased for the pretty sum of $119.9 million; billionaire Mukesh Ambani has the controlling share. Although these figures are astonishingly high, around 60-65% of the costs were recouped when Sony-World Sports won the television rights through a $1.026 billion sale.
Franchise bids brought in around $724 million alone, which doesn’t include match day marketing. Almost every element of the IPL is sponsored, even boundaries and catches. In its second season the IPL generated $209 million in revenue and today it is one of the fastest appreciating sports in the world.
Penny Munroe is an avid writer in business related news and topics. Articles include tips on how to select the best eco frindly executive suites Irvine has on offer to social marketing tips.
