The Indian Premier League, in short, the IPL is a professional T20 franchise based tournament being played in India every year, especially during the Indian Summer period. Currently, eight teams based out of eight different parts of India play against each other in the game. This tournament has redefined Indian Cricket. If I were to describe this big tournament in just 3 words, then it would be, Cricket, Entertainment and Money.
It is evident that a tournament featuring the international stars can fetch you lots and lots of fans and capital. This tournament was created and administrated by Lalit Modi, of the BCCI, the Wealthiest Cricket Board in the World. Till now, 13 editions have been successfully held, & the 14th edition is currently on hold due to the COVID-19 Pandemic. Mumbai Indians has been the most successful team by winning the grand title 5 times.
The IPL has been designed to entice an entire new generation of sports fans into the grounds throughout the country. The dynamic Twenty20 format has been designed to attract a young fan base, which also includes women and children.
- Lalit Modi during the start of the IPL...
This international tournament is a boon for Indian Cricket, and the fan base for it is just impeccable. It also sets lines of demarcation within the Indian Cricket fans supporting their state or a different team and, of course, cheering their favourite player. Overall, IPL has become a part of the lives of every Indian Cricket fanatic and the IPL is known for its huge worldwide fandom.
Now, money is a pivotal factor for its inception. And when it comes to financial transition, it's just tremendous. From a mere Rs 1,150 Cr valuation during the 2015 edition to a staggering Rs 40,000 Cr valuation, during the 2018 edition. According to various stats and reports, the 2019 edition of the IPL contributed around Rs 47,500 Cr of valuation. Indeed, the time period of 2018-19 was a financial boom for the whole tournament group. According to the 2019 reports, when it comes to the team's total remuneration & brand value, since its inception, out of all the 8 contesting teams, Mumbai Indians is having the highest team brand value with a colossal Rs 761 Cr, followed by Chennai Super Kings with Rs 611 Cr.
You might be surprised to know this, but the 2020 IPL edition has harnessed a revenue of about Rs 45,800 Cr. Now, take a moment & think about it. Though it has incurred a 3.6% loss, against the 2019 valuation of Rs 47,500 Cr; keeping in mind, it was the year 2020, the world was facing the pandemic blues due to which no crowd was allowed, where the economic breakdown was one of its aftermaths but that didn't act as a barrier to this lucrative biggie.
One of their lucrative ways to earn their humongous capital would be through their Ads, Sponsors & Branding. Now according to some stats & approximations, the currently hauled 2021 IPL edition could have earned a huge sum of Rs 3,600 Cr – 3,800 Cr, only through the advertising & sponsor revenue, if the tournament had been done smoothly, as planned. But due to the pandemic, it has earned quite a satisfying revenue, if not their sole target.
It has a small, yet valuable contribution to the Indian GDP. Even during these challenging times, it has helped in generating revenue, generating workforce, etc. 13 years since its inception, IPL is considered to be the 4th most profitable league in the world among all sports. Can you imagine that! We as Indians can consider this as a boon to a certain extent. Though there are several ways to describe this beautiful tournament but as stated, it's a Sporty-Money affair, as the above stats suggest.
