- People closely following the evolution of the Indian Premier League (IPL) T20 cricket tournament over the years would have noticed how the shortest version of the game has skyrocketed into the stratospheric levels vis-à-vis popularity, reach, and penetration across India and beyond. The way the T20 league has catapulted India into the elite global sporting institutions in terms of revenue generation is a fascinating story. Indeed, due credit should accrue to the Board of Control for Cricket in India (BCCI) administrators for not only envisaging the true worth of the format at the right time but also assiduously cultivating the league by incorporating subtle changes in line with the fast-evolving format as and when the necessity arose. The IPL is a complete package.
PC: NDTV Sports
- Such is the popularity of the IPL in India and all cricket-playing nations that some renowned and proven performers have retired from the classic format of the game (Tests) to be a part of the league. So much so that several cricketers have refused central contracts from the boards to plytheir trade in the IPL. Why so? The amount of money available in the lucrative league is simply mind-boggling. Some of the marquee cricketers are being signed up for unheard-of sums, showing the world how rich the league has become, even as the popularity ascends perpetually northwards. The moot point to ponder over here is what makes the IPL so wildly/widely popularand competitive in the cricketing world to invite such attention and clamour.
PC: NDTV Sports
- With so much revenue being generated in terms of broadcasting, sponsorship, in-stadia advertisement, and endorsements, the IPL governing council of the BCCI has ensured the in-stream doesn’t dry up. Astonishingly, the recently sold Royal Challengers Bengaluru (RCB) for approximately $1.78 billion (Rs. 16,660 crore) firmly establishes the brand value of the franchise-based league. This is the most expensive IPL franchise sale in history. The deal, purchased from United Spirits Limited (Diageo), includes investors led by Aditya Birla Group, Blackstone, The Times of India Group, and Bolt Ventures. Looked from any angle, this is a firm endorsement of how the IPL branding has taken off to such spectacular levels in the last two decades.
PC: Indian Television
- In yet another astonishing reaffirmation of the IPL branding, a record sum of about $1.635 billion (Rs. 15,290 crore) has been successfully bid by a high-profile group of Arizona-based tech entrepreneur Kal Somani, NFL-Rob Walton (Denver Broncos), and Michael Hamp, son of Sheila Ford Hamp, while buying the Rajasthan Royals (RR). Mind you, these are not mere amounts being dished out but humongous sums establishing the brand worthiness of the IPL franchises beyond doubt. Admirably, the revenue earned by the BCCI has been utilized to further spruce up the cricketing infrastructure around the country. The resultant outcome is several Indian cricketers from mofussil areas making a mark at the national level. The brand IPL deserves all the credit.
