Business: How well do you know IPL’s Financial Model?
The entertainment quotient of the IPL is unmatched. Cricket fans are glued to the multi-billion dollar entertainment extravaganza for nearly two months every year. This isn’t just a cricket carnival, it is a multi-million-dollar business pot. What fuels this financial powerhouse? What type of business model does it operate on? IPL Revenues & Expenses Let’s delve deep into where the IPL receives the money, and where the expenses lie. This involves three important IPL stages: pre-season, during the season, and post-season analysis. Period Revenues Expenses Pre-Season Franchises: Sponsorship deals, merchandise sales BCCI: Broadcast rights, central sponsorship deals Franchises: Auction, Merchandise production, and team building BCCI: Broadcast rights negotiations, marketing & advertising campaigns, sponsorship deals Season BCCI: Broadcast rights fees shared with franchises Franchises: Ticket sales, gate-sharing agreements, in-stadium food & beverage concessions, merchandise sales, premium seating revenue Franchises: Operational costs, stadium management, match-day expenses (security, etc) BCCI: Broadcast Production cost, tournament infrastructure Post-Season Distribution of prize money and shared revenue to the franchises. Also Read: What’s the ticket price for India vs Pakistan match? Team ownership & expenses – a complete summary Team owners play a vital role, as they are the ones who take care of the players, coaches, and support staff. One complete season of the IPL involves massive budgets, that include travel, accommodation, practice sessions, and miscellaneous costs. Currently, the IPL operates on a franchise model. This means massive corporates come together to buy teams and take full ownership of different cities. There are 10 teams in the IPL at the moment, and their owners are some of the biggest names in the business world. Team Name Owners Home Ground Sponsors Chennai Super Kings Chennai Super Kings Cricket Limited M.A.Chidambaram Stadium, Chennai Kit: SEVEN Front Shirt: TVS Eurogrip Back Shirt: ETIHAD Airways Chest Branding: Gulf Oil Delhi Capitals GMR Group, JSW Group Arun Jaitley Stadium, New Delhi Kit: Puma Front Shirt: Hero FinCorp Back Shirt: DP World Chest Branding: Greenpanel Gujarat Titans CVC Capital Partners Narendra Modi Stadium, Ahmedabad Kit: EM Front Shirt: Dream 11 Back Shirt: BKT Chest Branding: Capri Loans Kolkata Knight Riders Shahrukh Khan, Jay Mehta, Juhi Chawla, Red Chillies Entertainment Eden Gardens, Kolkata Front Shirt: Dream11 Back Shirt: BKT Chest Branding: Lux Cozi, PRAN-RFL Group Chorki Lucknow Super Giants RPSG Group Ekana Sports City, Lucknow Front Shirt: My11Circle Back Shirt: BKT Chest Branding: Greenply Mumbai Indians Reliance Industries Limited Wankhede Stadium, CCI-Brabourne Stadium Kit: Skechers Front Shirt: Slice Back Shirt: DHL, PRAN-RFL Group Chorki Chest Branding: IDFC First Bank Punjab Kings Preity Zinta, Ness Wadia, Karan Paul, Mohit Burman MYS Int’l Cricket Stadium, Mullanpur, Mohali Front Shirt: Dream11 Back Shirt: BKT Chest Branding: Kent RO Rajasthan Royals Manoj Badale, Lachlan Murdoch Sawai Mansingh Stadium, Jaipur Kit: Alcis Front Shirt: Luminous Back Shirt: BKT Chest Branding: Neom Royal Challengers Bengaluru United Spirits M Chinnaswamy Stadium, Bengaluru Kit: Puma Front Shirt: Qatar Airways Back Shirt: KEI Chest Branding: Delhivery Sunrisers Hyderabad Kalanithi Maran, Sun TV Network Rajiv Gandhi International Stadium, Hyderabad Kit: Wrogn Front Shirt: Dream11 Back Shirt: BKT Chest Branding: Kuhl The franchises have different revenue streams, other than jersey sponsorships. In all, there are four legal ways in which a franchise can earn revenue through the IPL. If a franchise earns big, there are equal amounts of expenses lined up, right through the IPL. These expenses include: Broadcast Rights – BCCI’s golden goose The BCCI makes a major chunk of its revenues from broadcasting rights. The Board sells the broadcast / television rights and digital platforms rights to the bidders and makes a colossal amount, which is later shared between the BCCI and the ten franchises. Other than the rights, the BCCI also enters into a partnership agreement with the title sponsors and associate sponsors, for the IPL. These sponsorships provide maximum visibility to the sponsors right through the tournament. IPL 2024 Sponsors Partnership Sponsors Name Price (Rs) Title Sponsor TATA 2,500 Crore Associate Partners My11Circle, Angel One, Rupay, Ceat 1,485 Crore Official Broadcasters Disney Star Network 23,575 Crore Digital Streaming Partner Jio Cinema 22,758 Crore How do the sponsors make money? Once the brands get enrolled as sponsors, with the BCCI, they gain significant brand exposure through on-ground activities, branding during matches, and logo placements on team jerseys. Thanks to the IPL’s massive viewership, this allows the sponsors to reach their target audience without any fuss. Tata is the current title sponsor, having bagged the official rights from the BCCI, for a period of four years (2024-2028). Tata will pay the BCCI a sum of Rs 500 Crore annually. Since 2008, the IPL Title Sponsorship has changed hands five times. Do you remember all five of them? Sponsor expenses: Fees constitute a major part of sponsors’ expenses, as they are supposed to pay a premium amount to secure the rights at the IPL, or the franchise level. Other than this the marketing campaigns and creating engaging activations also require a lot of money to be invested, to maximize the impact of their deal with the BCCI. Merchandising – delivering fans what they want The IPL has a passionate fan base. They can go to any length and breadth of the nation to follow their favourite teams. This love also involved buying team jerseys, caps, bats, and other memorabilia, thus generating massive revenues for the BCCI. Ticket Sales: Inside-the-stadium experience Though cricket attendance took a hit during the Covid-19 impact in 2020, ticket sales have returned to normalcy for the past three seasons. The franchises earn revenues by selling the tickets to the fans during the IPL matches. By offering premium benefits, they can generate a higher revenue on the ticket. When it comes to the investment part, the franchises have to pump in money to cover the costs associated with printing tickets and managing the distribution process. Also, the expenses related to managing the stadium, and giving fans the experience they are looking for. Beyond the Boundary: The Digital Dollars The world has gone digital, and so has the IPL way
IPL 2024: Prize Money Breakdown, Paycheque & Individual Awards – Full details
The Indian Premier League (IPL) 2024 is about to reach its playoffs stage. The excitement is at its peak, with the fans fully glued to their mobile screens expecting high-octane action. The world’s best cricketers are in the hunt to win the IPL, but knowingly or unknowingly they are also in the hunt for some big fat pay cheques, and individual awards too. The prize money in IPL 2024 is really big, which shows how much the league has grown and how many businesses are interested in it. The large cash prizes prove that the IPL is one of the most profitable sports events worldwide. This attracts talented players and lots of money from sponsors and TV channels. The IPL prize money system has stayed the same over the years, showing that the tournament is prestigious and fair. The champions get a big prize of Rs 20 crore, while the runners-up get Rs 13 crore. Teams that finish third and fourth also get good rewards, earning Rs 7 crore and Rs 6.5 crore respectively. Besides the Orange and Purple Cap awards, the IPL also gives prizes for other outstanding performances. The Emerging Player of the Tournament, Most Valuable Player, Power Player of the Season, Game Changer of the Season, and Super Striker of the Season all get significant cash rewards. This encourages players to do their best on the field. The 2023 IPL season was a grand success with plenty of award winners standing on the podium. Here’s a list of award winners in IPL 2023. IPL 2023 AWARD WINNERS Orange Cap Winner Shubman Gill (GT) – 890 Runs Purple Cap Winner Mohammed Shami (GT) – 28 Wickets Most Sixes Faf du Plessis (RCB) – 36 Sixes Most Fours Shubman Gill (GT) – 85 fours Most Valuable Player (MVP) of the Season Shubman Gill (GT) Player of the Final – Man of the Match Devon Conway (CSK) Emerging player Yashasvi Jaiswal (RR) Electric Striker of the Season Glenn Maxwell (RCB) Best Catch of the Season Rashid Khan (GT) Fair Play Award Delhi Capitals / Captain – David Warner Gamechanger of the Season Shubman Gill (GT) Longest six of the season Faf du Plessis (RCB) – 115 metres As IPL 2024 goes on, players try hard to make their mark in the tournament, aiming to win personal awards like the Orange and the Purple Caps, along with big cash prizes. Ruturaj Gaikwad, Travis Head and Virat Kohli are in the race for the orange cap this season. While the likes of Jasprit Bumrah, Harshal Patel and Varun Chakaravarthy are in the run when it comes to the leading wicket takers. The orange cap winner, the purple cap winner and the super striker of the tournament this season are supposed to get the prize money of INR 15 lakhs. The Emerging Player of the season is supposed to receive an amount of INR 20 lakhs. On the other hand the Most Valuable Player (MVP), Power Player of the Tournament, Game Changer of the Tournament receives INR 12 lakhs. Similarly the one who hits the most number of sixes wins INR 12 lakhs. With the IPL 2024 on its last stage, it would be a fantastic battle to watch out for as the top run getters, wicket takers, six hitters, accelerators compete against each other to take their teams over the line and also to grab some awards for their individual heroics. The Sportz Planet Desk,Atharva Shetye.
Bengal Pro T20 League: How State-Driven T20 Competitions Are Shaping Cricket’s Future in India?
‘This is a new era; T20 cricket is here to stay,’ says former Indian captain Sourav Ganguly during the launch of the Bengal Pro T20 League in Kolkata. While Test cricket remains the pinnacle, the impact of T20s cannot be overlooked, both in terms of unearthing talent and making money. The Bengal Pro T20 League is an eight-team franchise league of the Cricket Association of Bengal. The eight-team franchise league is the first state-based cricket league in India that will run both men’s and women’s competitions thereafter. The tournament will commence on June 11 at the Eden Gardens in Kolkata. The complete schedule is yet to be announced. All eight teams are based in the cities and districts of West Bengal. Bengal Pro T20 League – Teams, Captains & Owners Team Name Owners Men’s Captain Women’s Captain Kolkata Royal Tigers Lux Industries & Shyam Steel Abishek Porel Mitali Paul Adamas Howrah Warriors Adamas University Anustup Majumdar Dhara Gujjar Rashmi Medinipur Wizards Rashmi Group Abhimanyu Easwaran Richa Ghosh Rarh Tigers Shrachi Group Shahbaz Ahmed Titas Sidhu Malda Sobisco Smashers Sobisco Limited Mukesh Kumar Hrishita Basu Murshidabad Kings Pritam Electricals & Jalan Builders Sudip Kumar Gharami Deepti Sharma Harbour Diamonds GD Mining Manoj Tiwary Sukanya Parida Servotec Siliguri Strikers ServoTec Power Systems Akash Deep Priyanka Bala Bengal Pro T20 League info & details The tournament targets unearthing young cricket talent across West Bengal. The state has given several great players to the country, be it the likes of Pankaj Roy, Dilip Doshi, Sourav Ganguly, and current Team India pacer Mohammed Shami. Dada, who represented India in 113 Tests and 311 ODIs, welcomed the Bengal Pro T20 League and said: “It’s(T20 Leagues) happening in every state. We are probably 5–6 years late on this. Any way of playing the sport will always be very helpful. T20 is an important part of cricket these days, and this will be a huge opportunity for everyone to perform,” Sourav Ganguly said at the function. Indian women’s team bowling great Jhulan also echoed the same words. “To be able to witness the Bengal Pro T20 League launch is truly amazing. I would like to thank the CAB for making this possible. I wish all the players who will be participating to give their best and win it for their team. This league will surely help bring forward more talent from Bengal who will represent IPL and Women’s Premier League in the coming years,” said Jhulan. Also read: And the Most Valuable IPL Franchise Is… The inaugural Bengal Pro T20 League has the backing of some top owners, associated across the eight teams, with the target of developing cricket in the state and contributing to the league’s success. Some prominent names like Lux Industries and ServoTec Power Systems continue their association with cricket, but the presence of some heavyweights like Shrachi Group, Rashmi Group, Sobisco Limited, and others shows the massive craze of cricket among top multinational companies. Rarh, a region involving Bardhhaman and Birbhum districts, has a team named the Rarh Tigers, with Shrachi Group as their sole owner. The men’s team will be led by current Sunrisers Hyderabad all-rounder Shahbaz Ahmed, while Titas Sadhu, the young all-rounder who has represented Delhi Capitals in the WPL, will be in charge of the women’s team. Shrachi Group, a Rs 10 billion conglomerate, is involved in businesses as diverse as agro-machinery, engineering and EPC, real estate, and stationery. They have now ventured into cricket and would be expecting to give the established brands a run for their money. Can Bengal Pro T20 League blossom like TNPL & Co.? One of the major reasons behind state associations moving into T20 cricket is the identification of young talent and giving it the platform to blossom. The move can also benefit the state franchises in the IPL. For example, with the Kolkata Knight Riders, there is hardly any local talent associated with the franchise currently. With the Bengal Pro T20 League, there is a good chance that the talent is likely to be noticed by the IPL franchises. After all, the ultimate aim for any youngster picking up a bat or a ball today is to find a place in the IPL dugout. As Ganguly rightfully pointed out, the game is evolving thick and fast, and the administrators too need to evolve as per the needs of the cricketers and the audience. IPL has given a platform to several youngsters who have gone on to represent Team India across formats: Ravichandran Ashwin, Ravindra Jadeja, and others, to name a few. Even the Tamil Nadu Premier League, or TNPL, has emerged as one of the top T20 state leagues in the country, where there has been a constant production of talented cricketers for some time now. B. Sai Sudarshan hasn’t done badly for the Gujarat Titans and has also gone on to represent India in T20Is. Some other states, like Maharashtra, Rajasthan, and Karnataka, have also benefited from the state-driven T20 leagues. With the onset of the Bengal Pro T20 League, it is time for the cricketers from the North-East to utilize the platform, show their potential, and make a name for themselves in the coming days.
T20 World Cup 2024: 3 Key Takeaways from Team India’s Squad
After immense speculation and deliberation, the selection committee led by Ajit Agarkar finally revealed the Men’s national squad for the upcoming T20 World Cup in the West Indies and the US. Rohit Sharma will lead the team, with Hardik Pandya serving as his deputy. Veteran batter Virat Kohli has made it to the squad, despite the talks around a dip in his strike rate, beyond the powerplay in T20s. The team also comprises two wicket-keepers Rishabh Pant and Sanju Samson in the squad, with Jasprit Bumrah as the leader of the attack. Here’s the complete squad: Team India’s 2024 T20 World Cup Squad: Rohit Sharma(C), Hardik Pandya(VC), Yashasvi Jaiswal, Virat Kohli, Suryakumar Yadav, Rishabh Pant(WK), Sanju Samson(WK), Shivam Dube, Ravindra Jadeja, Axar Patel, Kuldeep Yadav, Yuzvendra Chahal, Arshdeep Singh, Jasprit Bumrah, Md. Siraj Reserves – Shubman Gill, Rinku Singh, Khaleel Ahmed, Avesh Khan The social media was abuzz after the men’s squad was announced, with several fans questioning Rinku Singh’s omission from the main squad. Some also questioned, Team India’s bowling depth with Arshdeep Singh and Md. Siraj getting the nod over the likes of in-form Harshit Rana, Avesh Khan, and others. 3 Major Takeaways from Team India’s Squad Announcement: a) The return of the King – Virat Kohli Given the stature of the man, Virat Kohli should walk into any team, but this time things were different. Although he is the holder of the Orange Cap at the moment (till April 29, 2024), there was a lot of noise in and around the strike rate with which Kohli was batting in the IPL. He has 500 runs from 10 matches, with a strike rate of close to 148, yet fans were not convinced of having Kohli in the World T20, especially with batters who score at close to 170 or 180 strike rates. However, the selectors might have thought of the big-match temperament and the experience that he carries and drafted the great man into the squad. At 35, this could be Virat Kohli’s last shot at the T20 World Cup silverware. b) Rishabh Pant & Sanju Samon – The men behind the stumps: For multiple reasons, Rishabh Pant and Sanju Samson’s selection deserves to be celebrated. After what happened in December 2022, Pant’s return to competitive cricket in IPL 2024 has been remarkable, to say the least. In Sanju Samson’s case, he left the selectors with no option but to pick him after his consistent and match-winning performances for Rajasthan Royals in IPL 2024. With 385 runs from nine matches, Samson is the leading run scorer among all Indian wicketkeeper batters in the IPL 2024. His unbeaten 77 off 33 balls to guide the Rajasthan Royals home against the Lucknow Super Giants in a chase of 197 is probably the best of the lot. c) Kul-Cha & Dube make their mark The T20 World Cup squad also witnessed the return of wrist spinners – Kuldeep Yadav and Yuzvendra Chahal into the national team. Chahal last played for India in August 2023, and has been the pick of the bowlers in IPL 2024 with 13 wickets from 9 matches. He is the only spinner in the race for the purple cap this season. For Shivam Dube, the big man has been in tremendous form this season. He has played the role of a finisher for Chennai Super Kings in the IPL. The southpaw has smashed 350 runs from 9 matches, at a whopping strike rate of 172.41. However, the tall fellow is yet to prove his credentials at the international level. Team India will commence their T20 World Cup campaign against Ireland on June 05th in New York, followed by the big one against Pakistan at the same venue on June 09th. India’s last two fixtures are scheduled against the hosts USA and Canada on June 12th and June 15th.