There is no stopping the fury that IPL has become over the years. The cricket league inaugurated by the cricket board of India in 2008 has become decacorn within 14 years of operation. For the inexperienced, the term ‘decacorn’ is used to refer to companies that have a valuation of more than $10 billion. The Indian Premier League It originally featured 8 teams and brought together all the big names in the game on one platform. Subsequently, IPL attracted massive viewers, first in India and later in parts of the world. The league, in turn, has become the leading cricket league and the second largest sports league in the world.
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IPL – Now the second largest sports league in the world
Released in 2008, IPL became an instant hit with the audience. D and P Advisory, a consulting firm, in their report “Beyond 22 Yards” reported that IPL touched a valuation of $10.9 billion in 2022. Furthermore, the report mentioned that the league witnessed a breakneck growth of 75 % in dollars in just two years. In 2020, IPL balanced at $6.2 billion. However, it appears that the pandemic did not slow down the league’s run for years to come. In addition, the introduction of two new equipment, namely Gujarati Titans and Lucknow Super Giants, last season apparently did wonders for the championship.
D and P Advisory additionally reported that the addition of Gujarat Titans and Lucknow Super Giants in the league generated $1.6 billion cumulatively in the last season. In addition, the auction of IPL’s media rights deals brought a staggering fourfold growth in valuation. The June 2022 media rights deal generated $6.2 billion for BCCI. Disney Star has reportedly acquired the TV broadcast rights to the widely watched IPL for INR 23,575 crore. Also, digital rights went to Viacom 18 at INR 23,758 crore.
Also read: IPL 2023 Mini Auction: Top 5 Players On Sunrisers Hyderabad’s Radar
As the IPL valuation increases, the league is fast moving towards expansion. Last season, two new teams were introduced. And for the upcoming season, the duration of the IPL has been extended up to 2.5 months. Subsequently, big names like joe root and Cameron Green head to what now appears to be the best cricket league in the world. IPL, in fact, paved the way for similar leagues like Australia’s Big Bash League and Pakistan Super League.
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