Unveiling the Financial Playbook: How IPL Teams Generate Revenue
The Indian Premier League (IPL) has become a cricketing extravaganza that captivates millions of fans worldwide. Beyond the thrill of the game, one burning question remains: How do IPL teams make money? In this comprehensive guide, we'll delve into the intricate financial strategies employed by these teams, from ownership acquisition to revenue streams. 1. Unravelling the Ownership Puzzle 1.1 Buying an Existing Team Purchasing an existing IPL team involves two primary avenues. One can either negotiate with the current team owner for a share acquisition, mirroring LIC's acquisition of 6% shares in Chennai Super Kings. Alternatively, individuals or entities can patiently await BCCI's announcement of a new team, ensuring they meet the stringent eligibility criteria set by the board. 1.2 BCCI's Selection Process* When BCCI decides to add a new team, eligible companies must participate in the Invitation To Tender (ITT) process. Valued at 3000 crores, these companies navigate...