Egypt reach Africa Cup of Nations final after defeating hosts Cameroon on penalties
Two New Teams and Increased Funding Ensure IPL’s Continued Irresistible Growth
The momentum builds over the 2022 and 15th Indian Premier League competition. Two new teams – Ahmedabad and Lucknow – have joined to expand the tournament to 10 teams, expanding India’s cricket coffers Board of Control by a staggering $1.7 billion.
BCCI has confirmed that the competition will start the last week of March and run until the end of May. The number of matches to be played will increase from 60 to 74. A majority of franchise owners have expressed a desire for the tournament to be held in India, despite concerns over the level of COVID-19 cases. Contingency plans are being discussed between them and BCCI. One option may be to play behind closed doors in Mumbai and Pune, where sufficient quality pitches are available and travel may be restricted to roads. If the tournament cannot be held in India, the United Arab Emirates and South Africa are considered as alternatives.
A mega player auction is scheduled in Bengaluru on February 12-13. Prior to that, the existing eight franchise teams were able to retain four players from their 2021 squad, based on a maximum of three Indian players, two overseas. players and two uncapped Indians. November 30, 2021 was the deadline to announce the retention list. Out of a possible total of 32 players, 27 names have been announced, 15 capped Indians, four uncapped and eight overseas. The two new franchises had until January 22 to choose three players from the pool of released players, two Indians and one foreigner.
Players, with the approval of their respective councils, submit their names and prizes to BCCI. Registrations closed on January 20 with 1,214 registrations, including 270 capped players (including 61 Indian), 903 uncapped and 41 from associated countries.
Australia recorded the highest number of registrations with 59, followed by South Africa with 48. The list was then sent to franchisees on January 21 for them to send back their own list of favorite offers, to from which the IPL Board has prepared a shortlist. This was released on February 1 and included 590 names, 370 Indians and 220 foreigners.
The stage is set for the mega-auction, which will air on the Disney-owned Star Sports Network. Its five-year, $2.6 billion deal for IPL broadcast rights expires in 2022 and an uphill battle for the next round of rights will ensue. Each franchise is entitled to a total purse of $12 million, from which the cost of retentions was deducted prior to the auction. The range of fees paid for the retained players was between 4 and 16 Crore ($543,000 to $2.1 million).
As in previous years, franchise teams are allowed a maximum of 25 players. Thus, a maximum of 250 players will be recruited. Given that 33 have already been shortlisted, competition will be tough for the remaining 217 spots, on which a cap of 70 foreign players is placed. Bidders must juggle available funds with the need to achieve quality and balance within their team. There are three categories of high-priced players, ranging from a base 2 Crore at which bidding begins, with 48 players listed, followed by 1.5 Crore, with 20 cricketers, and 1 Crore, with 34. The lowest base price is 0.2 Crore.
In the dynamic world of IPL, another twist came on January 11, when the withdrawal of Chinese mobile phone manufacturer Vivo as official title sponsor was announced by the board of directors of IPL. the IPL.
The Tata Group will replace Vivo, which will transfer its ownership rights to Tata. Various explanations have been released for his withdrawal request. One relates to anti-China sentiment in India, another to low investment returns and a third relates to a reported investigation into alleged tax evasion and manipulated finances.
Vivo acquired title sponsorship of IPL in 2018 in a five-year deal for $297 million. In 2020, Vivo suspended its deal for a year due to the diplomatic standoff in Indochina, with Dream 11. Media reports suggest that Tata will pay $90 million for the two-year sponsorship deal, while Vivo will pay 454 Crore for contract termination. With these agreements, BCCI will end up earning $151 million over 2022 and 2023, a boon for an already inflated stock market.
Tata’s decision to acquire Air India can be seen as evidence of its strategy to move away from its traditional industry-based brand to a consumer-centric organization focused on digital businesses. future-oriented. It seeks to educate consumers, especially young consumers. Investing in IPL will facilitate different opportunities for its marketing communication campaigns.
The partnership between Tata and IPL, under the Tata IPL brand, connects two of India’s most powerful brands. In 2020, Tata’s brand value was estimated at over $20 billion, while IPL’s brand value was estimated at $5.3 billion by financial consultancy Duff and Phelps in 2018.
There seems to be no limit to IPL’s growth possibilities. It is embraced by Indians, by spectators and viewers, players, coaches, advertisers, sponsors and media organizations. The change of main sponsor and the upcoming auction could serve to deflect criticism from BCCI’s handling of an ongoing fury over the captaincy of its men’s national team.
As reported two weeks ago, Virat Kohli, their former captain in all formats, resigned as Test captain after a 2-1 series loss to South Africa. In the three-game T20 series that followed, India, led by a substitute captain, were beaten 3-0. Conflicting statements have been made by Kohli and BCCI members, including its chairman, about the true chain of events that led to the end of his term. India’s transition from Kohli’s reign to a new management team, under which Kohli will play, has not started well. Currently, BCCI’s financial dominance in cricket – and the power that comes with it – is not matched by much-needed on-field performance.