IPL will be a $ 2 billion business soon. Great news for cricket. But how do they rake in this kind of money?
For all the controversies, twists and turns that have dogged the Twenty20 cricket tournament since its inception last year, as an enterprise, IPL is already worth more than $2 billion and counting, says UK-based brand valuation consultancy Brand Finance.
The IPL brand alone has a value of over $311 million, according to a Brand Finance report available exclusively to ET.
With cricket-crazed Indians lapping up the shorter version of the gentlemans game, once derided by purists as pyjama cricket, IPL has generated huge economic value for both its owner, the Board of Control for Cricket in India (BCCI), and the eight team franchisees.
And it has set the stage for the franchisees to list their teams on the stock market. The ultimate proof of the success of IPL Branded System will come when the fr ...more