In a recent interview, Indian cricketing legend Rahul Dravid explained the fact why the Indian Premier League or the Indian T20 fantasy cricket league is so crucial to the success of Indian cricket in general. He helped us understand how the business generated by the Board of Control for Cricket in India (BCCI) caters to the needs of the state cricket associations. The financial help provided by the IPL to India cricket is much more than any other cricketing event throughout the world.
The good news is that the Indian Premier League will be back soon starting from the 19th of September till the 11th of November in the UAE. So, the grounds of Sharjah, Abu Dhabi, and Dubai will be in charge of the 60 matches that’ll be played among the 60 teams.
THE BUSINESS OF THE INDIAN PREMIER LEAGUE
Title Sponsorship
After Vivo being shelved out of sponsorship for this season, the BCCI is still in talks for the new sponsorship rights for the mega cricketing event. The likes of Amazon, Reliance, Byju’s, PayTM, and even Baba Ramdev’s Patanjali are likely to bid for the title sponsorship. Presently the title sponsorship that was owned by Vivo was close to 341 million dollars for a close to 5 years. Since the rage in India boycotting Chinese products has increased, this measure has been likely to be taken.
The Net Worth
The entire net worth of the IPL during the 2018 season was close to 6.3 billion dollars that has almost increased to five times when it started in the year 2008. More than 276 million dollars of which is strictly reserved for advertising and close to 510 million dollars is solely for the broadcasting rights to various channels that showcase the cricketing extravaganza.
Broadcasting Rivalry
When Sony Max finished their broadcasting deal for the IPL T20, it was Fox Sports that bagged the global broadcasting rights for the seasons of 2018-2022 and this was a 2.55 billion dollar deal that was made. Post this event Disney allocated a major chunk of their assets with Fox Sports and closed a 71 billion dollar deal with the sporting giant. A vertical owned by Disney: Hotstar was then given the sole broadcasting rights to showcase the mega event.
The IPL Auction
The IPL auction is yet another head-turner when it comes to innovative measures taken in franchise cricket. The marquee players in the team like Sachin for Mumbai, Dravid for RCB, Ganguly for KKR & Sehwag for Delhi were in 2008 given 15% more income than the highest sold player in their squad. Since 2008, the icon players have changed and the likes of MS Dhoni, Rohit Sharma & Virat Kohli have taken the spots. Kohli is presently the highest earner after Pat Cummins & MS Dhoni with 17.5 Crores in his wallet from the RCB franchise.
The Preference & Dependencies
If you’re still wondering why the IPL was given preference over the World T20 this year, here’s your answer. With so much money and profits involved; and India being a superpower in the sport, it is very much needed to have strong finance to back your country’s sports infrastructure. While BCCI President Sourav Ganguly has managed to keep his promise to make this year’s IPL happen, let’s hope we get some brilliant cricket to watch like always from the iconic extravaganza.
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