The first time ever that an IPL game took place was actually back in April 18, but in 2008. It featured KKR and the RCB.
The most recent IPL game that took place was the 2024 final. It featured KKR and the Sunrisers Hyderabad aka the SRH.
But back then when the IPL was launched, there was no certainty, whatsoever, whether the league would get success, let alone become a money making avenue from multiple sources.
And here we are.
Fifteen years from the word go of the maiden IPL clash, the league has undoubtedly risen to become T20 cricket’s most elite stage of franchise competition.
And besides, it’s become the most lucrative form of T20 franchise cricket league. You get a fair sense of the above by diving into what is, without much doubt, an eye opening stat.
According to a US Investment Bank Houlihan Lokey, the current estimated value of the IPL league and the brand itself is measured at approximately USD $ 16.4 billion.
Let that sink in. Truth be told, there are several countries in the Middle East as well as Africa whose overall GDP figure is quite adrift of this mighty figure.
Since its inception, the Indian Premier League has led to an industry shifting rivalry between various media groups. The league, a brain child of none other than Lalit Modi of Rajasthan, India, has today mushroomed to ten robust outfits. While teams from the cities of Kolkata, Delhi, Mumbai, Rajasthan, Chennai, Hyderabad and Punjab were already there from the inception stage of the revered tournament, two of its latest entrants to the coveted bandwagon include sides from Gujarat and Lucknow.
Besides giving an honest and fair chance to a host of magnificent and often mind boggling talents, especially when you think of a Jasprit Bumrah or the likes of Yashasvi Jaiswal, Rinku Singh and Sai Sudharsan, the IPL has also led to a successful melange of cricketing extravaganza and Bollywood entertainment.
In some ways, it has become over the years a captivating confluence of glamorous and true cricketing skill.
But to elaborate more on the current scope of the IPL and the essence of its brand value, perhaps it becomes important to reflect on what noted publication Variety had to say on the trending matter:
The stand-alone brand value of the IPL has increased by 6.3% to $3.4 billion (INR 28,000 crores), over the past year, Houlihan Lokey reckons. Title sponsorship, secured by the Tata Group for a further five-year period, from 2024 until 2028, has risen to approximately $300 million, a 50% increase over the previous per season cost.
If anything, the IPL has been responsible for converting already popular cricketers into cult figures of idolatry, ensuring the formation of globe trotting fan bases that run on pure fandom and die hard admiration and not to forget, creating sentimental favourites out of IPL franchises.
It has successfully elongated the career of dashing cricketers such as MS Dhoni whilst also introducing newer faces on the horizon. Think of someone like Pathirana where it comes to the latter.
Furthermore, here’s what the bank closely noted on the hit concept that is the IPL:
The eight legacy teams that have been a part of the IPL for a long time are now able to reap substantial profits from both the central pool’s income distribution and their own franchisee revenues from sponsorships, gate receipts, and merchandise sales.