But for many, it was a heady cocktail of entertainment and cricket for a perfect night out. What could be better than watching Bollywood and cricket stars together over a three-hour period with entertaining cricket to go alongside?
It was different for the players and the franchise owners, though. For the players, it was a life changing moment.
For the owners, it was an investment in an idea. There was no physical asset, like a stadium, to own. There was nothing tangible to show for the millions they were spending. They were investing in a concept that allowed them to buy and sell players and create a template, which in years to come would redefine cricket’s governance model.
After 14 years, they have a brand that is robust and recession proof.
So, what explains the charm of the Indian Premier League (IPL)? Two new franchises were recently sold for over `12,000 crore. One of the two new teams, Gujarat Titans, has garnered sponsorship worth Rs 65 crore even before they have played a single game.
With so much cricket played round the year and a World Cup almost every year now, what is it about the IPL that makes it one of the most watched sports leagues in the world? The most important reason for the IPL’s success is that it’s risk free. Take last year’s T20 World Cup for example.
The moment it became clear that India were out of the knockouts, the attraction of the World Cup for the Indian market dipped. Without India in the fray, the tournament was half the property that it was at the start. With majority of the sponsors targeting the Indian market, a property like the World Cup always runs the risk of turning volatile based on how India performs. On the contrary, the IPL is a safe investment. In the IPL, India is never out.
Another reason is the evolution of fan loyalty. What makes the Manchester Derby one of the best Premier League clashes is the die-hard loyalty of the City and United fans. It is the same in Spain with Barcelona and Real Madrid and in Italy with AC Milan and Inter Milan. In its early years, the IPL or rather the franchises did not have their legion of fans. It was only natural, for it takes time for fan loyalty to crystalise. For some it wouldn’t matter if Kolkata or Mumbai won. In a Delhi versus Chennai clash, many would be happy if Delhi won but Dhoni played well. With time things have changed. Franchises now have fan engagement budgets, dedicated team of fans and official fan clubs. Fan merchandise is a serious business.
Lastly, the IPL is a pan-Indian festival of sorts wWith teams representing the length and breadth of India. So even if Assam doesn’t have a team, it has a Riyan Parag to root for. Umran Malik is a success story from Kashmir.
The tournament is also a platform where dream meets reality. While it is very difficult for a youngster to break into the Indian team at short notice, with 10 teams the IPL is easier to enter.
And the moment you do so you are consumed by millions on television making you an overnight star.
The IPL, in a way, is the country’s best talent hunt lasting two months every year fulfilling dreams and nurturing ambitions. That’s what explains its success year on year.
Now in year 15, it is only expected to grow bigger and better making it world cricket’s signature property for the foreseeable future.
