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
Whatever you have written is very true!IPL could be nick named as the money generating machine ;-).
it is gr8 news for cricket .. but it was not just surprising .. it was shocking..so much money!!!I was shocked to know the amount of money spent on IPL… I don't want to relate this new IPL deal with other economical issues.. but Still I feel … "itna saara paisa hai hamare desh mein??" where does this money appear from ??y do we have to suffer from the rise in fuel prices.. food..day to day products.. ofcourse all these things may not be related to IPL… ofcourse IPL is bringing more money .. but the amount spend in buying teams is shocking! ON one hand so much money is into news … on the other hand the day starts with discussions about food, petrol .. inflation etc etc!May be this argument is illogical .. but these BIG nos. are ironical to the current situation .. I feel!
very well written post ! Truely IPL is a good business model ! I admire the way these people built this money machine.on the other hand, share of such huge money should come to Government for serving the nation. We enjoy the play in flood lights and in multiplexes. But at the same time there are thousands of villages in India which remain in dark for nights !! Anyways this can be separate thread of discussion, so I'd stop here 🙂
Though feel that cricket will drive india……..Though feel that IPL will fade away like Indian idol …….and made not provide huge returns as expected.