Tuesday, January 25, 2022
betwinner

IPL 2021: Growth and Expansion of Indian Premier League over 14 years

BETADDA

Indian Premier League (IPL 2021) has always fulfilled the expectations of fans over the years and has now become an inseparable part of every cricket fan in India. Started in 2007 after India’s historic inaugural T20 World Cup triumph, is now considered as one of the best cricket league in the world in every prospect.

IPL 2021 will be the 14th edition of the tournament and is being played in two different countries due to the Covid-19 pandemic. Opening 31 matches played in India but due to Covid outbreak league was suspended and later postponed. It was a big blunder from the BCCI (Board of Control for Cricket in India) who placed highly secure bio-bubble protection to run the league without any disturbance.

BCCI later announced the shift of the tournament to the United Arab Emirates(UAE) for the remaining of the matches. Fixtures are scheduled from 19th of September to 15th of October 2021, distributed to three venues. This will be the first time IPL’s history that tournament being played in two different countries.

Indian Premier League is known for the two major factors. One is for being the most competitive cricket league and the second for money. In this article, we will be covering how it has transformed with both factors in 14 years.

IPL 2021: Growth and Expansion
IPL 2021: Growth and Expansion

IPL transformation with teams:

Indian Premier League started with 8 teams in 2007 and since then most of the seasons have played with the same number of teams including the current one. But on few occasions, there were 10 teams involved. BCCI recently confirmed that from the next edition there will be two new teams joining and bidding for that two teams are being held in October 2021.

In 2010, two new teams from Pune and Kerala joined the fold for the fourth edition of the tournament. Kochi Tuskers Kerala was then eliminated from the league over the breach of contract. In 2012, Champions of 2009 edition, Hyderabad-based franchise Deccan Chargers were also terminated and replaced by new owners with new team name Sunrisers Hyderabad.

Before the start of the 2013 edition, Pune Warriors India closed their setup after financial differences with league management. Two years late IPL faced its biggest controversy, the match-fixing scandal. That scandal resulted in the termination of the Rajasthan Royals and one of the most popular franchises Chennai Super Kings. Both teams were suspended for two years and were replaced by two new teams Rising Pune Supergiants and Gujarat Lions.

A new roadmap has been revealed by IPL and BCCI, which consists of a total of 10 teams participating from the 2022 edition. A bidding auction for two teams will be held after the conclusion of the current season in October 2021. Teams from Pune, Lukhnow, and Ahmadabad are expected to win the bidding war. A big overhaul in teams with players auctions is also scheduled in the coming months, giving fair chance to two new teams to compete.

Financial transformation in IPL:

A major factor in IPL’s success is its financial module. No other cricket league in the world can compete with that. IPL has been generating money for every factor involved in it, including fans. Revenue model, sponsorship rights, and advertisement distributions are key players behind that module. It’s always been in an upward direction in the financial graph.

IPL is currently valued at nearly $7 billion. Current champions Mumbai Indians have been the most valuable side in the league with a $106 million valuation. Rajasthan Royals are last on the valuation table, valued at $35 million. IPL also offers big when it comes to Prize money. Currently, the total prize money offered is around $7 million. The winning team gets $2.8 million, runners-up get $1.8 million, and 3rd and 4th paced team gets $1.8 million each.

We also witnessed the rise in sponsorship fees which has raised from $6 million to $62 million in just 14 years. Vivo are the main title sponsors of IPL since the 2016 edition. In 2020 they were removed after the India-China border standoff and cry out for banning Chinese products in India. Fantasy sports giants Dream11 were title sponsors last season but Vivo have retained their title rights again for another three years for $61.7 million.

IPL also tops when it comes to broadcasting rights. Star India are current broadcasting holders of IPL. They distribute it through domestic television, digital platform Hotstar, and international television. It was reported that they won the broadcasting rights with a whooping bid of $2.5 billion in 2018. Before that Sony Pictures Network were broadcasting holders of IPL with $1 billion for 2007-2017.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

TRENDING NEWS

EDITORS PICK

LATEST ARTICLES

MUST READ NEWS