BCCI's annual report claims IPL valuation is $4.5 billion
This figure easily makes IPL the biggest brand currently in world cricket.
The Board of Control for Cricket in India has disclosed a stunning figure in regards to the valuation of the Indian Premier League. According to their 2015-16 annual report, the governing body of Indian cricket has stated that the world's grandest T20 cricket tournament is worth $4.5 billion at present, an amount equivalent to INR 27,000 crores.
Global financial services firm Duff and Phelps has assisted the BCCI in arriving at this figure which highlights the IPL’s monetary worth.
The unprecedented success that the highly popular T20 league has achieved ever since its inception has proved to be a shot in the arm for the Indian cricket board which has had its fair share of troubles, particularly the Lodha Committee reforms imposed by the Supreme Court and their ongoing tussle with the ICC.
The bulky valuation figure that the IPL has managed to garner, though, should hardly come as a surprise considering the way the tournament has progressed since 2008. The popularity meter for the annual event has soared up higher with every edition and it has expanded its fanbase to non-cricketing nations, too.
All the parties which have been associated with the league have benefitted immensely from it including the players, the franchise owners, the sponsors, the venues, the TV broadcasters and most of all, the BCCI. No wonder, the current board president Anurag Thakur is pleased as punch with the world’s premier domestic T20 tournament.
Talking to a leading newspaper about the IPL, he was quoted saying, “The IPL's been a sure-shot hit on the field and off it too. On the field, it has given the talented players a stage and a platform to exhibit their skills. It has brought the cultures of cricketing countries together and gives youngsters a unique opportunity to see the greatness in front of their eyes and learn from them.”
“It has been the fastest-growing league in the world, and it has also changed the landscape of domestic sport in the country. After the IPL was launched in 2008, many other sports have started such leagues. Numbers prove that the IPL has set a benchmark, and at the BCCI, we're extremely proud of this,” added Thakur.
Most recently, the board declared open the tender process for selling the IPL’s TV rights for a 10-year term beginning in 2018. There is no doubt about the fact that a number of top television broadcasters will be ready to shell out big bucks in order to join the tournament's bandwagon and this will only further inflate its worth.
One of the most heartening aspects of the consistent rise in the Indian Premier League’s popularity and valuation is the way in which it has battled troubled times and emerged on top. Issues like the infamous spot-fixing saga had threatened to tarnish the image of the tournament forever; however, things have only been better with every passing year.