How can IPL become an economic power? How much has the value soared from $400 million to $16.4?
According to BCCI, IPL 2015 contributed more than $182 million to the Indian economy. It kept soaring. If media reports can be trusted, IPL’s business value soared to $16.4 billion in 2024. Analysts suggest that it could hit $20 billion in 2025.
Founded in 2008 by former BCCI Vice President Lalit Modi as a franchisee-based T-20 Cricket League, India has established itself as one of the largest sporting events in the world.
Its impact can be understood by the fact that it not only became a launching platform for many cricketers, but also created thousands of jobs and generated billions of dollars in revenue each year. IPL 2024 contributed more than $6 billion to the Indian economy.
IPL itself created millions of dollars in wealth to impact the Indian economy in its first year. The franchise was priced at $400 million at the first auction of IPL on January 24, 2008.
Franchise
There are eight teams in the first edition: Bengaluru, Kolkata, Chennai, Delhi, Hyderabad, Mumbai, Jaipur and Mohari.
Vijay Mallya’s UB group bought Bengaluru (Bollywood Diva Preity Zinta and billionaire tycoon Ness Wadia) for $76 million.
Similarly, Chennai was bought by Indian Cement for $91 million, while Kolkata was caught by Bollywood actor Shah Rukh Khan, actress Juhi Chawla and her husband Jay Mehta for $75.09 million.
Deccan Chronicle paid $107 million for Hyderabad and Mukesh Ambani’s Reliance Industries Limited paid $111.9 million for Mumbai team.
On the other hand, the Delhi team was acquired by GMR Holdings for $84 million, and the Jaipur team was acquired by emerging media in the UK for $67 million.
sponsor
Real estate developer DLF has won the rights to the champion sponsor with a bid of Rs. 2 million.
In addition, Cola Major Pepsi purchased the title sponsorship rights of Rs. The next five years will be 3.97 million. However, the deal was terminated after Chennai Super Kings and Rajasthan Royals were suspended for field fixation.
It was transferred to the Chinese smartphone company Vivo’s rupees. 2 million. The Chinese company retained a five-year contract, which lasted 43.98 billion yuan.
In addition, Vodafone, the bank, star Plus, Kingfisher, Jio and other sponsors have contributed. Later, FBB (Future Group), Dream11 and Tata (Altroz) also joined the official partners.
Broadcast Rights
Sony Max becomes the most viewed as Sony TV and World Sports Group secure $1.0026 billion in broadcast rights
Indian TV channel.
Its annual advertising revenue spans Rs. 12 billion, further increase.
Star India has obtained global media rights to IPL worth Rs. 163.475 in September 5, 2017.
Income generated through franchisee fees, sponsorships, broadcast rights and advertising point charges and reach incredible levels.
BCCI’s profits
BCCI made rupees. IPL’s first issuance of Rs 350 crore received BCCI RS. 350 crore rupees, far exceeding its revenues. 2.35 million in 2007.
IPL Brand Value
IPL’s brand valuation rose from $2 billion in 2009 to $4.13 billion in 2010.
However, the brand’s value fell to $3.67 billion in 2011 and $2.92 billion in 2012.
Pepsi brought the IPL championship in 2012 at Rs 4 billion, and other brands, such as Vodafone, are banks,
Star Plus invests as a sponsor.
Soon, IPL’s brand value increased and soared to $3.2 billion in 2014.
According to BCCI, IPL 2015 contributed more than $182 million to the Indian economy.
It kept soaring. If media reports believe, IPL’s business value soared to $16.4 billion in 2024.
Analysts believe it could hit $20 billion in 2025.
