League based sport models are quite common across the
sporting world. However, in a sport like cricket such a model was completely
unforeseen before the year 2008. There were domestic regional games in most of
the cricket playing countries. But there was no big league in the game which
would attract players from across the globe similar to an English Premier
League in soccer. Also the fact that unlike soccer, cricket was a lengthy game played
all through the day or across multiple days did not help its cause.
The year was 2008 and corporate investments were pumped in
from all parts of the world into various industries across India. And then in a
parallel universe, a shortened version of cricket was invented and played. These two irrelevant factors gave birth a new
phenomenon The Indian Premier League (shortly described as IPL).
Top corporate offices across India bought franchisees and
players from all over the globe were auctioned and teams were formed. The
authority of the Board of Control for cricket in India (BCCI) over the world
cricketing fraternity also helped its cause.
Ever since its inception in 2008, the IPL has grown
steadfastly and has become a money spinning machine. The league is scheduled
during the Indian summer for a little over two months. During this period, big
stars refrain from releasing their new movies since they know that most of the
viewing public would be engrossed in the cricketing carnival. The IPL has also
consistently churned out talented young Indian cricketers helping the country
to raise its game in the international arena. However, the IPL has had its
share of controversies too. Match fixing and betting scandals in the latest
edition have dented its public image.The last two years TRP ratings have been down as well. But IPL "the brand" is still very much on rise and with the quality of players who are going to be in action, atleast for the next 5 years the league will keep growing.
According to business standard, IPL's current brand value stands at $ 3.03 billion ( which is 4% higher than last year! ). So people who thought IPL is going to end have clearly made an emotional standpoint and not a business standpoint. Chennai Super Kings is highest valued brand of IPL at $45.42 Million followed by Kolkata Night Riders at $44.98 Million
Despite its ups and downs, there is no denying the fact that
the IPL has once and for all changed Indian cricket for the better. Indian
cricket team’s recent rise to the top of the International Cricket Council (ICC)
rankings is a classic testimony to that fact.
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