The kind of hype and money generated by Indian Premier League (IPL) is simply astounding. Even better, it is becoming a classic case of Bollywood and Cricket merging to propel Indian sports towards the league of really big bucks. But are things as rosy as they look?
Just imagine this tantalising scenario. Mahendra Singh Dhoni, 
the new rock star of Indian cricket, marries Deepika Padukone, the new rock star of Bollywood. As a honeymoon gift, Dhoni gives Deepika the Mohali IPL team. A consortium led by Dhoni and Anil Ambani has persuaded the current owners of the team, Ness Wadia, Mohit Burman and Preity Zinta to cash out. Don’t think for a moment that this is fantasy. Bollywood and cricket have well and truly married each other to propel the business of sports towards the big boys club in India. And why not? Shahrukh Khan has paid $75 million for the Kolkata team led by Saurav Ganguly. Preity and her partners have forked out $75 million for the Mohali team. Akhsay Kumar has become the brand ambassador for the Delhi Daredevils led by triple centurion Virendra Sehwag. And the list just goes on and on… At one stroke, the Board of Cricket Control of India (BCCI) has generated $1.5 billion through the launch of the Indian Premier League (IPL) that will oragnise 20-20 matches that start on April 18.
In an exclusive interview to B&E, Shahrukh Khan says, “I have invested a big stake, and as an investor, I am concerned about every move of the team…overall the business of sports is very interesting and profitable, both for businessmen and for our country.” Shahrukh’s co-star in quite a few Bollywood blockbusters, Preity Zinta has this to say about her new found zeal as an investor, “You know that for me, money is very important… we are looking at a long term plan. We have a professional set up, so it is not a child’s game.”
And it’s not just cricket that is using Bollywood and entertainment to promote itself and generate the real big bucks. The ‘King of Good Times’ Vijay Mallya has vowed to bring the phenomenal Formula One racing into India. Simultaneously, he has promoted and launched the Force India team that now participates in F-1 races across the world. Everybody knows about how Sania Mirza has taken the ‘business’ of tennis to new heights. The humble yet brilliant Vishwanathan Anand routinely earns crores every year through chess matches. Others like Jeev Milkha Singh (golf), too, have become dollar millionaires. So, as the Indian economy gallops ahead at a scorching pace, sports is also becoming big business.
But one thing is unmistakable. While sports like racing, football, golf and chess do have a bright future, it is cricket that rules as the unchallenged emperor. Says Amita Sarkar, Head, Media & Entertainment division, FICCI, “No other sport can match the popularity of cricket in India. The other sports have a future, but it is a long way from now.” Just look at this comparison: When the Indian hockey team won the Asia Cup, they got piffling money rewards while when India won the first T-20 World Cup (cricket), Dhoni and his band of merry boys were showered with cash prizes, which also resulted in protests by the hockey players for a stepmotherly behaviour.
Amidst all this hype, hoopla and media frenzy, one question that keeps cropping up repeatedly is: Have people like Shahrukh, Preity, Mallya and Mukesh Ambani made a wise decision by investing such huge amounts in teams and players? And will they be in a position to recover their investments in the future? Equally important, Sony has bagged the telecast rights of IPL for a mind boggling $1 billion. Will the channel be able to recover the money it has gambled on the new 20-20 format? If history is any guide, then the head honchos at Sony surely have some thinking to do. In an exclusive interview with B&E, Ashish Kaul, the then Executive Vice-President of Zee Network explains the economics of IPL and how tough it will be for Sony, “It is only BCCI who is going to make money out of IPL. By no means Sony or WSG will make money.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
the new rock star of Indian cricket, marries Deepika Padukone, the new rock star of Bollywood. As a honeymoon gift, Dhoni gives Deepika the Mohali IPL team. A consortium led by Dhoni and Anil Ambani has persuaded the current owners of the team, Ness Wadia, Mohit Burman and Preity Zinta to cash out. Don’t think for a moment that this is fantasy. Bollywood and cricket have well and truly married each other to propel the business of sports towards the big boys club in India. And why not? Shahrukh Khan has paid $75 million for the Kolkata team led by Saurav Ganguly. Preity and her partners have forked out $75 million for the Mohali team. Akhsay Kumar has become the brand ambassador for the Delhi Daredevils led by triple centurion Virendra Sehwag. And the list just goes on and on… At one stroke, the Board of Cricket Control of India (BCCI) has generated $1.5 billion through the launch of the Indian Premier League (IPL) that will oragnise 20-20 matches that start on April 18.In an exclusive interview to B&E, Shahrukh Khan says, “I have invested a big stake, and as an investor, I am concerned about every move of the team…overall the business of sports is very interesting and profitable, both for businessmen and for our country.” Shahrukh’s co-star in quite a few Bollywood blockbusters, Preity Zinta has this to say about her new found zeal as an investor, “You know that for me, money is very important… we are looking at a long term plan. We have a professional set up, so it is not a child’s game.”
And it’s not just cricket that is using Bollywood and entertainment to promote itself and generate the real big bucks. The ‘King of Good Times’ Vijay Mallya has vowed to bring the phenomenal Formula One racing into India. Simultaneously, he has promoted and launched the Force India team that now participates in F-1 races across the world. Everybody knows about how Sania Mirza has taken the ‘business’ of tennis to new heights. The humble yet brilliant Vishwanathan Anand routinely earns crores every year through chess matches. Others like Jeev Milkha Singh (golf), too, have become dollar millionaires. So, as the Indian economy gallops ahead at a scorching pace, sports is also becoming big business.
But one thing is unmistakable. While sports like racing, football, golf and chess do have a bright future, it is cricket that rules as the unchallenged emperor. Says Amita Sarkar, Head, Media & Entertainment division, FICCI, “No other sport can match the popularity of cricket in India. The other sports have a future, but it is a long way from now.” Just look at this comparison: When the Indian hockey team won the Asia Cup, they got piffling money rewards while when India won the first T-20 World Cup (cricket), Dhoni and his band of merry boys were showered with cash prizes, which also resulted in protests by the hockey players for a stepmotherly behaviour.
Amidst all this hype, hoopla and media frenzy, one question that keeps cropping up repeatedly is: Have people like Shahrukh, Preity, Mallya and Mukesh Ambani made a wise decision by investing such huge amounts in teams and players? And will they be in a position to recover their investments in the future? Equally important, Sony has bagged the telecast rights of IPL for a mind boggling $1 billion. Will the channel be able to recover the money it has gambled on the new 20-20 format? If history is any guide, then the head honchos at Sony surely have some thinking to do. In an exclusive interview with B&E, Ashish Kaul, the then Executive Vice-President of Zee Network explains the economics of IPL and how tough it will be for Sony, “It is only BCCI who is going to make money out of IPL. By no means Sony or WSG will make money.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
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