As the 15th edition of the tournament approaches, I wonder whether the Indian Premier League would have been such a resounding success had India not won the inaugural Twenty20 World Championship in 2007.
Remember, India was the last country to agree to play in this. The ICC had to implore the defiant Indian cricket establishment to agree. There was good reason for the ICC’s desperation.
By the start of the new millennium, nearly 70% of the viewership for international cricket came from India. This translated into whopping revenues for India — about 70% too — which had increased the BCCI’s clout manifold, often leading to internecine battles and stand-offs with the ICC. Without an Indian team, the T20 WC would have been lacklustre at best.
How has it fared in all these years?
Ever since its maiden steps in 2008, the Indian Premier League (IPL), often seen as a blend between cricket and entertainment, has been a big hit.
With leading international players adding to the allure, the summer league has its charms. Despite controversies like the 2013 spot-fixing scandal, the IPL remains a steady brand, dishing out quality cricket and throwing the spotlight on fresh talent.
The broadcaster Star India, too, left no stone unturned and attracted fans to all its platforms. The fact that IPL keeps breaking world record for live-streamed sport — reiterates the IPL’s enduring appeal.
Why such huge turnouts?
Packed stadiums witnessing IPL games could be attributed to three factors -timing, duration and the presence of top international and domestic stars.
The 7:30-8 p.m. start obviously suits working professionals on weekdays. Additionally, the abridged nature of Twenty20s means that ideally a game will not last longer than three hours and 15 minutes.
Yet, the over-rates in previous seasons were pathetic and matches dragged on for almost four hours, but spectators were unfazed and lapped up the cricket. Attending an IPL game has become part of the summer bucket-list.
What does BCCI gain from IPL?
The Board of Control for Cricket in India (BCCI) finds incremental appreciation in three facets: Revenue: The IPL is such a big money-spinner that the broadcast rights for five years started in 2018 fetched a whopping ₹16,347 crore. The BCCI distributes 60% of this money among the eight franchises.
The remaining amount easily surpasses the Board’s other income, including broadcast rights for international matches played in India.
Goodwill: The IPL has given financial security to a plethora of both domestic and overseas cricketers.
Many former players also draw big bucks due to their association as commentators or coaches.
And clout: The IPL has emerged as one of the biggest draws in global cricket, and, in turn, it helps the BCCI maintain its stature as the domineering force in the sport’s governance. After all, with the BCCI offering a share to other cricket boards for releasing their players for the IPL, no other board can oppose it or the league.
Do the franchises make money?
The smart franchises that did apt brand-linkages were in the green during the first decade, while a few struggled to break even. However, with the change in dynamics — owners no longer have to pay an annual franchise fee coupled with a huge surge in assured income from the central pool — all eight franchises will earn a massive surplus.
Each franchise is assured of at least ₹250 crore from the central pool by the BCCI. Add to that the gate receipts and income from team sponsors, and it would mean each franchise will earn at least ₹300 crore.
As for expenses, player and coach fees, along with operational costs, should not exceed ₹150 crore.
How has IPL helped cricket?
The IPL has offered financial security to a wide range of cricketers. It has changed cricket’s commercial scenario so much that it has inspired the mushrooming of leagues across the cricket-playing world.
Even in India, other sporting associations feel empowered to have their own leagues, leading to a win-win situation for athletes and fans.
IPL still thrives
By end-January 2008, eight franchises were sold. By mid-February, cricketers were auctioned, the first time in the game’s history. By mid-April, the first IPL match was played in Bengaluru.
On June 1, after six weeks of high-octane excitement, the first IPL final was played at the D Y Patil Stadium in Navi Mumbai.
There were many skeptics who said the IPL’s lustre would fade quickly and the tournament would fizzle out. Despite several controversies, the IPL thrives.
In 2019, after just 12 editions, it was valued at a whopping $6.8 billion by Duff and Phelps, among the top six most-coveted sports properties. In hindsight, it would seem logical that the game’s newest format would have found ready acceptance in cricket-mad India.
