There’s no stopping to the rage that IPL has become over the years. The cricket league inaugurated by the apex cricket board of India in 2008 has turned decacorn within 14 years of running. For the unversed, the term ‘decacorn’ is used to refer to businesses that have a valuation of over $10 billion. The Indian Premier League originally featured 8 teams and brought all the big names of the game into play on a single platform. Subsequently, IPL attracted mass spectators, first at home in India, and then subsequently in parts all over the world. The league has, in turn, become the leading cricket league and the second-biggest sporting league in the world.
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IPL: Now The Second-Biggest Sporting League in the World
Launched back in 2008, IPL became an instant hit among the audience. D and P Advisory, a consulting firm, in their report “Beyond 22 Yards” informed that IPL touched a $10.9 billion valuation in 2022. Moreover, the report mentioned that the league witnessed a blazing 75% growth in dollars within just two years. Back in 2020, IPL was balanced at $6.2 billion. However, seems like the pandemic didn’t dampen the league’s run over the next years. Additionally, the introduction of two new teams, namely Gujarat Titans and Lucknow Super Giants, last season has seemingly worked wonders for the championship.
D and P Advisory, furthermore, reported that the addition of Gujarat Titans and Lucknow Super Giants in the league brought in $1.6 billion cumulatively in the last season. Moreover, the auction of IPL’s media rights deals entailed a staggering quadruple growth in valuation. The media rights deal of June 2022 brought in $6.2 billion for BCCI. Reportedly, Disney Star acquired the TV broadcast rights of the widely-watched IPL for INR 23,575 crores. Moreover, the digital rights went to Viacom 18 in INR 23,758 crores.
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As IPL grows in valuation, the league is swiftly moving towards expansion. Last season, two new teams were introduced. And for the coming season, the duration of IPL has been extended up to 2.5 months. Subsequently, big names like Joe Root and Cameron Green are heading up to what now appears as the greatest cricket league in the world. IPL, in fact, led the path for similar leagues like the Big Bash League of Australia and the Pakistan Super League.
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