India’s top-rich league IPL has witnessed a major growth in their valuation.
A value report on Wednesday was published D and P advisory, who are the leading consulting and advisory services agency. The report stated that IPL has witnessed a 75% growth this year, nearing to USD 11 billion property.
The league currently stands at USD 10.9 billion, previously being at USD 6.2 billion.
A business with a value more than USD 10 billion within 15 years of inception is considered as a “Decacorn” and IPL has managed to be known as a Decacorn business.
Talking about the recent team biddings when IPL introduced LSG and GT for owner auctions, which were sold at a combined price of USD 1.6 billion.
Another crucial factor remains the media rights which was an incredible move by the officials to earn a major chunk of their revenue. The media rights sale was divided among multiple broadcasters for the first time, breaking one company’s monopoly. A combined viewership of 426 million on television and OTT platforms has contributed to the upward trend.
“Since its launch in 2008, IPL has reimagined the nation’s cricket competition. IPL 2022 witnessed some major milestones and captivating games throughout the season. The renewed media rights deal was a major contributor towards a substantial jump in value for a relatively young league like IPL. These observations are an assurance of the fact that the IPL will continue to revolutionize the game of cricket and will be etched in the hearts of millions of fans for years to come,” N Santosh, Managing Partner, D and P Advisory, says in the report titled Beyond 22 Yards.
