9 Questions
What was the reason behind the BCCI increasing the prize money for its domestic tournaments?
To counter the growing popularity of the ICL
What was the total reserve price for the eight IPL franchises?
$400 million
Which of the following franchises was terminated after just one season?
Kochi Tuskers Kerala
What was the name of the BCCI Vice-president who led the IPL initiative?
Lalit Modi
What was the name of the tournament that served as the qualifying mechanism for the Champions League Twenty20?
Indian Premier League
In what year was the Indian Premier League (IPL) founded by the Board of Control for Cricket in India?
2007
What is the estimated brand value of the IPL in 2022?
₹90,038 crore (US$11 billion)
What was the valuation of the IPL in 2020?
US$6.2 billion
What was the value of each IPL match in the 2023 media rights deal?
US$13.4 million
Study Notes
Indian Premier League (IPL)
- The IPL is a men's Twenty20 (T20) cricket league held annually in India.
- Founded by the BCCI (the Board of Control for Cricket in India) in 2007.
- The league features ten state or city-based franchise teams.
- The IPL usually takes place during the summer, between March and May each year.
- It has an exclusive window in the ICC Future Tours Programme, resulting in fewer international cricket tours occurring during the IPL seasons.
Popularity and Revenue
- The IPL is the most popular cricket league in the world.
- In 2014, it ranked sixth in average attendance among all sports leagues.
- In 2010, the IPL became the first sporting event to be broadcast live on YouTube.
- The league's brand value was estimated at ₹90,038 crore (US$11 billion) in 2022.
- The 2015 IPL season contributed ₹1,150 crore (US$140 million) to India's GDP.
- The IPL achieved a valuation of US$10.9 billion in 2022, becoming a decacorn and registering a 75% growth in dollar terms since 2020.
- The 2023 final became the most streamed live event on the internet, with 32 million viewers.
- The league sold its media rights for the next 4 seasons for US$6.4 billion to Viacom18 and Star Sports in 2023.
History
- The IPL was founded in response to the Indian Cricket League (ICL), which was not recognized by the BCCI or the ICC.
- The BCCI imposed lifetime bans on players who joined the ICL.
- The inaugural season of the IPL was scheduled to start in April 2008.
Founding and Team Ownership
- The BCCI hosted an auction for the franchises on 24 January 2008, which raised $723.59 million.
- The league officially commenced in April 2008, featuring eight franchises.
- The franchises were Chennai Super Kings (CSK), Mumbai Indians (MI), Delhi Daredevils (DD), Kings XI Punjab (KXIP), Deccan Chargers (DC), Rajasthan Royals (RR), Kolkata Knight Riders (KKR), and Royal Challengers Bangalore (RCB).
Expansions and Terminations
- New franchises, Pune Warriors India and Kochi Tuskers Kerala, joined the league before the fourth season in 2011.
- The Kochi franchise was terminated after just one season due to their failure to pay the BCCI the 10% bank guarantee element of the franchise fee.
- The Deccan Chargers franchise agreement was terminated in September 2012.
Annual men's Twenty20 cricket league held in India, featuring ten franchise teams, founded by the BCCI in 2007.
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