The Stardom of Indian Premier League Touched New Highs
The stardom of the Indian Premier League (IPL) has touched new highs. Without any shadow of the doubt, the Indian Premier League is most inclined up property in sports arena of India.
After its first season in 2008, the foster child of Lalit Modi kept growing bigger and bigger, and now it has just increased by billion dollars.
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Indian Premier League became the first sporting event in the year 2010 to broadcast its stuff live on YouTube.
It was set up in 2007 with funding provided by Zee Entertainment Enterprises. Since then, it had continued to attract more and more audience and grabbed the eyeballs of notable advertisers.
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Duff and Phelps, the global finance advisors and valuation came out with the latest figures of cash-crunch league. The company comes with the annual report of this excited league every year.
In its statement, it says the value of the IPL has seen 19% jump to $6.3 billion after the 11th season.
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According to the Duff and Phelps, the brand value of IPL was $5.3 billion in IPL 2017 while in 2016, it was $4.16 billion.
The DLF were the official sponsors of IPL who bagged the rights for five years from 2008-2012 for a sum of two-hundred crores. After then, Pepsico bagged it for the next five years for an amount of ₹396.8 crores.
However, due to some unavoidable circumstances, the deal got terminated two years before the expiry date of the contract. A Chinese smartphone company, Vivo bagged the rights of IPL for the remaining two seasons for a sum of ₹190 crore.
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The smartphone manufacturer company retained the reasons for the next five years in 2018 for a whopping amount of ₹2199 crore.
The comeback of Chennai Super Kings and Rajasthan Royals
The figures rose further after Chennai Super Kings and Rajasthan Royals returned after two years absence.
After facing two years of suspension, Chennai Super Kings made a grand entry. The playoffs spots got terminal on the last day of the league stage. It followed a pinnacle from Chennai Super Kings while clinching the title.