IPL is the set acronym for Indian Premier League. You can say it’s the professional T-20 cricket league of India contested yearly by franchise teams on behalf of India-based cities. Many national and international players are purchased through bids by the team owners and is carried out nationwide in different cricket grounds meeting international standards.
Origin of IPL:
The Indian Premier League was founded in 2007 by Mr. Lalit Modi- the active member of BCCI or Board of Control for Cricket in India. The league is scheduled to conduct on April and May of once a year. The title sponsor of IPL changes with the time and at present Vivo Electronics is in the work to give title sponsor. Hence, the league is now officially known as the Vivo Indian Premier League.
Indian Premier League is in the 6th rank of all major sports league and is most-attended cricket league of the world. Way back in the FY 2010, IPL had turned into the first major sporting event of the world to be televised live on the video hosting channel, YouTube. According to the statistics report of the year 2014, IPL carries the brand value of US $3.2 billion whereas BCCI says IPL has contributed around $11.5bilion in FY 2015 to the Indian economy.
Cricket will always be another religion of India, and it’s seen more than as a game. The IPL players symbolized as the demigods and are literally worshipped. After making IPL, BCCI has had created a golden history. The T-20 format of cricket has revolutionized the market, and Cricket is now on every one’s mouth. Therefore, it will not be wrong to say that it’s all started with envision of Mr. Lalit Modi.
The DLF sponsored Indian Premier League is an amazing occurrence in the entire world of cricket history. The concept of IPL has given good opportunity to the entertainment industry as far as it is concerned. The T-20 format cricket has appeared as a phenomenon only after India won the T-20 world cup. Since then, people have been completely engrossed into it. The first fund was released from Zee Entertainment to fund IPL in 2007.
From Where The Concept Of IPL Was Idealized:
Though IPL was initialized by the BCCI’s VP Lalit Modi, still the concept of IPL is having many similarities with the US-based English Premier League and the National Basketball League. The IPL is operated carefully with the help of list of franchises just like the American style. These franchises were included into the auction event, and the highest bidder among them will have the power and rights of getting a team for the IPL season. They’ll be representing the team throughout the season. The new face of the game i.e. Cricket has earned much integrity, quick and enormous fame in just few days. As an Indian, I can say that people start getting crazy once the IPL season begins.
Who Are They Getting Benefitted Out Of IPL Season?
Franchisee benefit: Investors or Franchisee holders are in the first place to get most of the benefit out of one IPL season; then, just imagine how much they are getting in actually. Investors are purchasing teams to generate money, but they don’t believe in short-term as they look forward to long-term benefits. They always keep their eyeballs at the big picture.
The franchises of IPL teams dispense millions of dollars to have star players on their side, and it has been seen all these years. As most of the IPL franchise are businessman; therefore, they always will try to generate more and more revenues. Realistically, such huge amount of cash flow is not possible for the franchises, so they try to make money out of this investment.
Marketing benefits: Franchisees or Investors can sell their IPL teams to other companies for promoting their brands or to do short-ads. Players do the same every time without demanding extra money for shooting of ads.