IPL 2023 Mini Auction: Indian Premier League auction’s valuation has now jumped to this massive amount, check here
Two days before the hugely-awaited Indian Premier League mini auction, a big news has come the league’s way. The valuation of the Indian Premier League has now seen a 75 percent growth this year. IPL is currently valued at 11 Billion US dollars, which is close to Rs 91,000 crroe. As per a leading consulting and advistory services agency D and P Advisory, the IPL is now a Decacorn. A decacorn is a business whose value is more than 10 billion US dollards within 15 years of inception.
Many factors have led to the value addition to the league. The media rights of IPL was sold for a total of Rs 46066 crore. The TV rights were sold for Rs 23,575 crore while the digital rights was sold of Rs 23,491 crore. In addition, IPL sold two new franchises last year, Gujarat Titans and Lucknow Super Giants, whose value was 16 times more than previous 8 teams, as per a report in Cricbuzz.
“Since its launch in 2008, IPL has reimagined the nation’s cricket competition. IPL 2022 witnessed some major milestones and captivating games throughout the season. The renewed media rights deal was a major contributor towards a substantial jump in value for a relatively young league like IPL. These observations are an assurance of the fact that the IPL will continue to revolutionise the game of cricket and will be etched in the hearts of millions of fans for years to come,” N Santosh, Managing Partner, D and P Advisory, says in the report titled Beyond 22 Yards.
IPL 2023 will kick start in April next year and would feature all ten teams. It will be back to the old home and away format with teams able to host matches at their home ground.
