By Denzil Fernandes
Mumbai, Oct 13: If ever there was a universal success story in cricket that has to belong to the Indian Premier League (IPL). There is nothing better and bigger anywhere in the world as far as T20 cricket action is concerned. Each and every aspiring cricketer in the world likes to be a part of the action at least once in his lifetime.
The mammoth cricket extravaganza founded in 2008 by the Board of Control for Cricket in India (BCCI) has been a blockbuster of a rare kind. There have been 13 editions of IPL so far including this year. Except twice when the IPL matches were held earlier in South Africa and UAE respectively Indian cities have hosted the matches with overflowing crowds flocking the stadiums no end.
The response has been unbelievable from everyone concerned including the players, spectators, sponsors and advertisers making it the most lucrative cricketing event in the world. The BCCI has reaped the rewards while the players have taken home a rich bounty given by the franchise owners. The IPL teams have been owned by eminent business houses, industrialists and prominent film stars like Shah Rukh Khan, Preity Zinta, Juhi Chawla and others.
A country like India where cricketers are worshipped like gods, there is no dearth for record attendances when top-class international cricketers are seen in action. The franchises strengthen their respective teams with players who can win them matches. At the players’ auction, the bidding war ensures that the best player’s kitty is fat and full.
At this point, one cannot forget the shrewd and brainy Lalit Modi who was instrumental in setting up BCCI’s pot of gold by starting the IPL in 2008. Despite Modi’s exit from the scene, the tournament has gone from strength to strength year after year. Even this year, despite Covid-19 pandemic BCCI have successfully manoeuvred by moving the event from India to UAE after satisfying all the medical conditions. Since the spectators have not been allowed to watch the matches due to the pandemic, gate revenue has suffered which has been offset by getting more sponsors.
The major revenue share for the various franchises comes from media rights fees from the broadcaster. The various teams get a major chunk of the revenue after BCCI keeps their cut. Sony Entertainment were the media rights holders from 2008 to 2017 for a mind-boggling payment of Rs 8,200 crore after which Star India bagged the rights from 2018 to 2022 for Rs 16,347 crores.
This apart, all franchises have topnotch companies promoting their brands on the clothing and the like. Even in the current IPL one can easily see names like Gulf Oil, Eximcash, Muthoot, Jio, India Cements, Nerolac, Ralco, Avon Cycles, Colgate and others. The list goes on and on. Likewise, there is another source of revenue from where money flows into the coffers of IPL. Dream 11 have grabbed the title sponsorship for a cut price of Rs 222 crores after original sponsor Viva pulled out due to a controversy following anti Chinese sentiments in India. Other big names include Byju’s, Amazon, PhonePe and Vodafone Idea who are returning as Vi.
The IPL is a mega mercantile management that leaves no stone unturned. There is class, cash, carnival and cricket all gelled together to present what has become the world’s richest league.
From the days of yore, where one saw the mesmerizing cheerleaders springing on their feet to everyone’s delight, from the blistering blades of the batsman, from the pulverizing pace of the pacer the IPL has now become a household necessity for every cricket connoisseur all over the world.