Many of the world’s top cricketers "will gather in India next month to compete in a league that didn’t exist 10 years ago, yet now contributes billions of rupees to the country’s economy," according to Colin Simpson of BLOOMBERG.
The Indian Premier League "features eight franchise teams representing cities across the country competing in 60 matches in the explosive Twenty20 short-duration version of the game." Though the IPL season lasts only a few weeks -- this year’s tournament runs from April 9 to May 29 -- "the top-level international players taking part are lavishly rewarded." A report on the economic impact of last year’s IPL season produced by KPMG Sports Advisory Services found that the event contributed 11.5B rupees ($172M) to India’s GDP. Another report, by the American Appraisal valuation services company, last year put the overall value of the IPL as a business at $3.5B, up 9% from '14. The "direct economic impact of the IPL season, including spending on travel, accommodation, food and beverages, team outfits and equipment, promotional activities and the cost of staging matches," was put at 5.7B rupees ($86M). The first IPL season took place in '08, and the competition "was an immediate hit in a country that is crazy about cricket." Broadcasting and sponsorship cash poured in, "confirming India’s status as the game’s financial powerhouse." Some think, however, that "the league could do more to share its wealth." Prabhudev Konana, a professor at the University of Texas, said, "It is disappointing that the IPL does not pay attention to helping local communities. In the U.S., the National Basketball Association and the National Football League contribute massively to the local community and support numerous initiatives. I don’t see much from the IPL" (BLOOMBERG, 3/27).
