IPL’s 14 Seasons Summarize Three New Cricket Trends
IPL’s board of directors announced yesterday that two new franchises will be part of the 2022 season, bringing the number of teams to 10.
RPSG Ventures successfully bid for a Lucknow franchise at Rs 7,090 crore. The Ahmedabad franchise went to Irelia Company Pte Ltd. for Rs 5,625 crore.
A rough measure of financial success is that the two offers were more than twice the base price of Rs 2,000 crore set by the BCCI.
IPL’s 14 seasons not only transformed cricket, they also sparked trends that go against the conventional wisdom of 2008, the year IPL was launched.
IPL: RPSG wins Lucknow franchise for Rs 7k crore, CVC obtains Ahmedabad franchise for Rs 5.6k crore
Evaluation game: CSK, a peerless player in terms of results on the playing field, was created by a cement company, India Cement. When company chief N. Srinivasan was asked by an analyst in 2008 why the company spent $ 91 million on an independent business, the response was that the franchise valuation would end. by surpassing that of the cement company.
Times of India reported that the CSK is now valued at over $ 900 million, roughly tenfold growth at a time when an economic downturn has negatively impacted cement companies.
The valuation of intangible assets is now at the heart of the IPL economy.
Fan Loyalty: There was a school of thought that urban franchises with a changing player cast would not engender fan loyalty and therefore adequate interest. The reference was the particular structure of the Ranji Trophy of India which evolved according to social and economic changes. Therefore, a princely state such as Baroda fielded an autonomous team and Gujarat played separately.
The popularity of the IPL, measured by offers for broadcast rights, indicates that fans may not be so rigid in identifying the object of their passion. The story may not really interest the contemporary cricket fan.
Club vs. Country: The international cricket calendar has now been licensed for the IPL. Football has faced this problem because it is the clubs that provide the players with the real winnings. T20 franchises around the world have made free agents for many players and reduced the grip of national administrations on players. We haven’t heard the end of this loophole.