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Mother and daughter not always eye to eye But always heart to heart shirt, hoodie
teams – Chennai Super Kings and the Rajasthan Royals – serving a two-year suspension, and teams like Deccan Chargers, Pune Warriors India and Kochi Tuskers Kerala being terminated by the Board of Control for Cricket in India and title sponsor Pepsi scrapping its deal mid way into its five year contract, the tournament’s brand value continued to surge over the years.
In 2020, the value of IPL’s ecosystem was pegged at Rs 45,800 crore ($6.1 billion) by Duff & Phelps. This was, however, 3.6 percent lower than 2019. The financial consultancy firm said in a brand value report that this fall was largely due to Chinese technology company Vivo pulling out of the title sponsorship deal amid India-China border tensions, additional costs involved to create a bio-bubble environment and the lack of ticket sales, among other factors. Mother and daughter not always eye to eye But always heart to heart shirt, hoodie
Yet, losses would have been much sharper had the 2020 season not happened at all. The BCCI earned “Rs 4,000 crore in revenue and cut costs by 35 percent, against the anticipated revenue loss of over Rs 3,000 crore had it been cancelled,” the report added.
Cricket boards around the world have tried to emulate IPL’s success. The Pakistan Super League, the Big Bash, Caribbean Premier League, Bangladesh Premier League and the Lanka Premier League are all experiments on the same line. None have come close to the IPL.
One of the reasons has been the dedicated window the International Cricket Council, governing body of the sport, offers to the IPL. Most international cricket action in April-May is blocked off to make players available for the IPL. Players themselves may find the Indian domestic Twenty20 tournament more lucrative that a bilateral series. In February, the Jaipur-based Rajasthan Royals franchise picked up South African all-rounder Chris Morris for $2.1 million (Rs 16.2 crore) – making him the most expensive player in the tournament’s history.
Broadcasters have had intensive competition to secure the rights to cricket’s “prized asset”. In 2017, Star Sports bagged the rights for $2.5 billion for a five-year period. According to Duff & Phelps, that’s $8.5 million per match – significantly higher than $3.8 million for a game of the German Bundesliga and $2.1 for the NBA.