Believe it or not: The two new IPL teams have been sold for more money than many of the smaller nations’ economies could turn over in an entire year.
As a Punekar, let me first welcome the biggest Cricket brand to Aamche Pune! It will be heartening to see Pune’s team get on ground next year … Cheers!
On a broader level though, IPL’s increase in brand value & overall market capture has been nothing less than Astonishing – I mean we all knew that cricket was always gonna earn a lot in India, a major world economy but This fast? and SOOOOO Much?
US $370 M & $333 M for Pune & Kochi respectively is humongous & something we should take notice and interest in.
Just wondering if Cricket could be next driver of Indian economy – we already have software & outsourcing industries but the way Lalit Modi has brought about a change in Indian Cricket as a Product is fabulous & could well prove historic for India.
With deals like Sony TV & youtube making IPL cash rich, it’s set for only bigger leaps! Matches being shown in multiplex & improved ground-spectator experience – it is time for much more … Much more money & much more growth!
Of course, cynics have already made their cases against the money & some crap with ‘purity of cricket’ – but let me tell these historically-British-ruled people that it’s no more an English game. Cricket is going global & India is taking it to the world! (I still maintain it’s a sport & the essence needs to be alive forever.)
This is new India, rich India. This is new cricket with player auctions, cheer leaders.
Looking forward to many more of such milestone dates with India & my favorite sport, cricket!
Disclaimer: I am not the only one who’s been shaken by these developments, here are a few more (some of the views are bound to match)-
IPL franchise valued more than EPL teams: http://timesofindia.indiatimes.com/iplarticleshow/5709837.cms
[Update on 4/13/2010 – 12:50 PM ET]
Ayaz Memon seems to agree with me in his article on cricinfo about IPL &India http://www.cricinfo.com/magazine/content/story/455812.html