IPL Auction 2024: How It Broke Into World's Big League — In Charts
Since its beginning in 2008, the IPL has grown to rank among the richest sports leagues in the world. And it has made individual players and teams richer as well.
The player auction for the Indian Premier League 2024 is set to begin on Dec. 19 in Dubai at the Coca-Cola Arena.
The auction will feature 333 players, of whom 214 are Indians and 119 are overseas players—of whom two are from associate nations. They will be vying for 77 slots, including 30 reserved for overseas players.
Since its beginning in 2008, the IPL has grown to rank among the richest sports leagues in the world. And it has made individual players and teams richer as well.
Here's how IPL has grown since its inception:
IPL: A $10.7-Billion Brand
In 2023, the brand value of IPL crossed the $10 billion mark, with the Mumbai Indians being the most valuable IPL brand.
In the league's 16th season, the combined brand value of the IPL system stood at $10.7 billion, according to Brand Finance. The league was valued at $2 billion in 2009 and saw steady growth to $4.7 billion in 2021. In the following two years, the brand value more than doubled.
This staggering growth was driven by mega media rights deals, an increasing central pool of IPL revenues, and the addition of two new franchise teams.
Part Of The Big League
Since its inception in 2008, the homegrown short-format series has gained immense popularity worldwide, which is evident through the sports broadcasting fee. With $14.4 million in terms of broadcasting fees on a per-match basis, the IPL is only second to the NFL.
The IPL has fared well above the likes of the NBA, English Premier League and Bundesliga, according to the data from Houlihan Lokey.
"The IPL brand stands as a guiding light to all other T20 leagues, illustrating how the business model can be successfully scaled up on a global level," Hugo Hensley, head of sports services at Brand Finance London, said in its report.
What's In It For Individual Teams
Chennai Super Kings saw the highest growth of about 107% in its brand value since the start. Mumbai Indians' value rose by 99% and Punjab Kings' brand rose the least by 24%.
The new entrants, Lucknow Super Giants and Gujarat Titans, saw the maximum jump in brand value in 2022–2023 at 48% and 38%, respectively.
Who Took It All?
The bid for the top player only keeps rising every season. Chennai Super Kings made the highest bid for Mahendra Singh Dhoni for Rs 9.5 crore in 2008. In 2023, the Punjab Kings bought England all-rounder Sam Curran for Rs 18.5 crore.
In the auction that is to be held on Dec. 19, twenty-three players have opted for the highest reserve price of Rs 2 crore, while 13 players have been listed at a base price of Rs 1.5 crore. All teams have a combined purse of Rs 263 crore for the auction.
All eyes will be on the auction that is to take place on Dec. 19. Even before the auction, some interesting developments had taken place. The Mumbai Indians, in a major move, decided to appoint Hardik Pandiya as the team captain, replacing Rohit Sharma.
Meanwhile, Chennai's favourite MS Dhoni has confirmed that he will feature in the 2024 season.
