The continuous rise in value of the Indian Premier League

The continuous rise in value of the Indian Premier League
Since 2008, the IPL has established itself as a global phenomenon and it has done so in a relatively short time. It attracts millions of fans and viewers, providing instant entertainment. All the signs are that it will continue to grow through increased sponsorship, viewer numbers and media rights income. (AFP)
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Updated 02 May 2024
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The continuous rise in value of the Indian Premier League

The continuous rise in value of the Indian Premier League

In the aftermath of the Punjab Kings’ record chase of 262 runs on April 26, team captain Sam Curran, remarked that the Indian Premier League “(is) becoming a bit like baseball, isn’t it?”

This was likely a moment that opponents of the IPL had predicted and feared — and, conversely, one that proponents of the IPL and T20 cricket in general relished.

T20 cricket is in line with the age of fast food. Instantly consumable, quickly forgotten and underpinned by mass advertising and high-profile personalities. Around the world, its sponsors include KFC for Australia’s Big Bash League, the very title encapsulating the format’s frenzy.

In England, the Hundred has a five-year deal with KP Snacks. Given governmental policy to reduce consumption of products that are high in fat, salt and sugar, the partnership has drawn criticism.

Meanwhile, in South Africa, SA20’s title sponsor is Betway, one of a growing number of betting companies associated with cricket. In the IPL, there is a myriad of sponsors. The title one, Tata, is paying $300 million between 2024 and 2028. Then there are three associate partners — My11Circle, Angel One and RUPay — plus an official broadcaster in Star Sports, official digital streaming partner JioCinema, official strategic timeout partner CEAT and an umpire partner in Paytm.

Each franchise team has a plethora of principal partners, associate partners, media partners and merchandise partners. These represent a broad range of different industry sectors which boost the brand value of the franchises. According to brand valuation consultancy Brand Finance, the value of the ten franchises at the end of the 2023 season ranged from $43.7 million to $87 million. The estimated brand value of the IPL was $10.7 billion.

Estimates of brand value are derived differently by different bodies. This is because brands are not tangible assets — they are subject to beliefs, perceived reputation, trust and experience. Their value lies in how consumers associate with the brand and how it influences their behavior. Attempts to quantify these factors require measurable elements such as trademarks, logos, taglines, visual assets, digital assets, customer retention and social media engagement levels.

Since it began 17 years ago, the IPL has generated all of these in abundance. Along with experience and engagement within the stadiums, an exponential growth in viewership reached close to 500 million unique viewers in 2023. The new media rights regime in 2024 has created further growth, with the Disney Star Network acquiring broadcast rights for all IPL matches in 2024. Live broadcast of the first 18 attracted over 400 million viewers, a 17 percent like-for-like increase over 2023. 

There is a big shift in live streaming, with Viacom’s JioCinema awarded digital streaming rights in the 2024-27 cycle. In 2023 it streamed the entire IPL season for free on its mobile app and website, a feature continued into 2024. The move took many by surprise but enabled it to set a record for the highest concurrent viewership for a live-streamed event — some 32 million viewers tuned in to watch the final. Now, digital streaming appears to be gaining momentum over traditional TV broadcasting with IPL viewers, depending on market segment. This can only increase as technology advances and accessibility improves.

As a result, brand value estimates after the 2024 edition are likely to be affected. Close inspection of existing estimates reveals the different methodologies in use. Cost-based valuations focus on how much it has taken to build the brand. Market-based valuations take account of how much sales of similar brands have raised. Income-based valuations focus on how much money the brand brings into the organization compared with non-branded similar products for services. Customer-based valuations analyze existing customers and predict future consumption patterns.

Another approach is the relief from royalty method, used by global investment bank Houlihan Lokey. This calculates value based on hypothetical royalty payments that would be saved by owning an asset rather than licensing it. In 2023, this produced a brand value estimate for the IPL of $3.2 billion — a difference of some $10.7 billion compared with other estimates. The methodology also produces different estimates of the franchise brand values. In this case, they are in a higher range of $83 million to $212 million, with a slightly different ranking.

Houlihan Lokey also undertook a valuation of the IPL’s value as a business, based on the standard discounted cash flow technique. This amounted to $15.4 billion in 2023, an increase of 80 percent over 2022. Most of this can be attributed to the renewal of the media rights deal covering 2023-2027, worth three times more than the 2017-2022 cycle. It is reasonable to assume that, given the year-on-year increases in viewership, the IPL will be able to command even more enhanced terms in the next cycle.

Intuitively, this makes the use of DCF techniques understandable. Under normal circumstances, the IPL can be reasonably sure of its future revenue streams. Once they are expressed in terms of present values, investors can assess what rate of return they are likely to achieve. Ultimately, returns on investment and profits are more important to stakeholders than differences in brand valuations, although the franchisees remain committed to brand enhancement through fan engagement, association with star players and top sponsors. 

Since 2008, the IPL has established itself as a global phenomenon and it has done so in a relatively short time. It attracts millions of fans and viewers, providing instant entertainment. All the signs are that it will continue to grow through increased sponsorship, viewer numbers and media rights income which, in turn, proliferates advertising revenue for the media. This is big business and looks unstoppable, but it may morph into a caricature of the game from which it took its roots.


Low turnout for France-Israel match would be understandable, says Upamecano

Low turnout for France-Israel match would be understandable, says Upamecano
Updated 57 min 57 sec ago
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Low turnout for France-Israel match would be understandable, says Upamecano

Low turnout for France-Israel match would be understandable, says Upamecano
  • Israeli soccer fans were attacked in Amsterdam last week by groups shouting anti-Israeli slurs
  • “I can understand why people don’t want to come. It’s their choice. We’ll keep going, we’ll fight on the pitch,” 26-year-old center-back Upamecano told reporters

PARIS: A low turnout for France’s high-security Nations League soccer match against Israel at the Stade de France on Thursday would be understandable, defender Dayot Upamecano said on Tuesday.
French media expect only 20,000 fans in the 80,000 capacity stadium north of Paris, where President Emmanuel Macron will attend under tight security, with 2,500 police around the stadium, 1,500 across the city and 1,600 stadium staff deployed.
Israeli soccer fans were attacked in Amsterdam last week by groups shouting anti-Israeli slurs, with at least five people injured after Maccabi Tel Aviv’s Europa League game at Ajax.
Some Maccabi supporters were also seen chanting anti-Arab slogans before Thursday’s match.
On Sunday, Israel urged its citizens to avoid attending cultural and sports events abroad involving Israelis over the coming week.
French supporters’ group Les Irreductibles Français conducted a survey among its members, which showed 15 percent would boycott the France-Israel match due to the Israel-Gaza war.
Some 30 percent cited “security risks,” with 34 percent listing practical reasons such as being unavailable or out of holiday time.
“I can understand why people don’t want to come. It’s their choice. We’ll keep going, we’ll fight on the pitch,” 26-year-old center-back Upamecano told reporters on Tuesday.
Dutch police said they took away more than 300 pro-Palestinian protesters who ignored a ban on demonstrations in Amsterdam on Sunday and detained 50 more following clashes involving Israeli soccer fans last week.
“We will stay focused on the upcoming match. Sorry I didn’t see what happened in Amsterdam,” Upamecano added.
Asked If the France-Israel match should have been moved he added: “Somewhere else? I don’t know at all. I’m just here to play. I’ve loved playing football since I was little.
“Yesterday was November 11 (Armistice Day). I love peace, I hope that one day we’ll find it again, in every country.”
France are second in Nations league Group A2 on nine points from four games, a point behind Italy and five ahead of Belgium. Israel are bottom of the four-team standings without a point.
The Europa League match between Turkish side Besiktas and Maccabi Tel-Aviv on Nov. 28 will be played at a neutral venue in Hungary, European soccer’s governing body UEFA said on Monday.


Former France striker Wissam Ben Yedder gets 2-year suspended jail sentence in sexual assault case

Former France striker Wissam Ben Yedder gets 2-year suspended jail sentence in sexual assault case
Updated 12 November 2024
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Former France striker Wissam Ben Yedder gets 2-year suspended jail sentence in sexual assault case

Former France striker Wissam Ben Yedder gets 2-year suspended jail sentence in sexual assault case
  • The prosecutor requested a jail sentence of two years, six months, including 18 months suspended
  • The plaintiff’s lawyer, Frank Michel, said during the trial that the victim was in a state of shock and asked for 25,000 euros in damages

PARIS: French soccer star Wissam Ben Yedder received a suspended sentence of two years in prison on Tuesday after his trial last month in France for sexually assaulting a woman, one of his lawyers told The Associated Press.
The prosecutor requested a jail sentence of two years, six months, including 18 months suspended.
Lawyer Marie Roumiantseva said Ben Yedder, who was accused of sexual assault while intoxicated, was ordered to pay compensation of 5,000 euros ($5,300) to the victim. The court in the southern city of Nice also imposed on Ben Yedder a duty to follow treatment.
The plaintiff’s lawyer, Frank Michel, said during the trial that the victim was in a state of shock and asked for 25,000 euros in damages.
Ben Yedder was charged after a woman filed a lawsuit against him in September. He can appeal the ruling.
The 34-year-old player, a prolific striker who has also played for the national team, was briefly detained then released after the incident in his car on the French Riviera. He was arrested at his home later that night after he first refused to stop his car.
The court also ordered the suspension of Ben Yedder’s driving license for six months.
After his arrest, Ben Yedder — who has since started alcohol detox and therapy — admitted he drove while under the influence. He said during the trial he was so drunk he has no recollection of any kind of sexual assault.
Ben Yedder has been without a club since his contract with Monaco expired at the end of last season.
He scored 16 goals with three assists in the French league last season to help Monaco finish second behind Paris Saint-Germain. In five seasons with Monaco, he scored 118 times in 201 appearances in all competitions to become the club’s second-highest scorer behind retired Argentine striker Delio Onnis (223).
Ben Yedder has 19 caps for France, the last of which came in June 2022.
In a separate legal case last year, Ben Yedder was charged with rape, attempted rape and sexual assault over another alleged incident in the south of France.


UAE team show quality at Baseball United Arab Classic final in Dubai

UAE team show quality at Baseball United Arab Classic final in Dubai
Updated 12 November 2024
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UAE team show quality at Baseball United Arab Classic final in Dubai

UAE team show quality at Baseball United Arab Classic final in Dubai
  • The team defeated several more experienced baseball nations during their journey to the tournament finale

DUBAI: The UAE’s national baseball team — assembled in just 30 days — put on a stunning performance when they played in their first international tournament at the weekend.

During the inaugural Baseball United Arab Classic, the UAE side won five games before finishing as runners-up, losing in the final to the championship’s highest-ranked team, Pakistan.

All games were played at Baseball United’s new ballpark at The Sevens, with the UAE defeating India, Bangladesh and Afghanistan en route to the quarterfinals. There, they beat Saudi Arabia — also playing in their first international tournament — and followed that up with a semifinal over Palestine.

That was arguably the championship’s most exciting game, with shortstop Chris Beyers hitting a momentum-shifting home run to spearhead the victory. Overall, the UAE outscored their opponents by 23 runs during the tournament, with Beyers (SS), Lorenzo Riddle (RF/P), and Gabriel Reque (DH) winning All-Tournament Team honors.

It was a strong and unprecedented debut for a team new to the international scene. The UAE national team was formed after Baseball United’s chairman, CEO and co-founder Kash Shaikh petitioned the Emirates Cricket Board to allow the organization to build, develop and manage a national baseball program.

The rights were granted on Oct. 4, based on “Baseball United’s professional knowledge, expertise and pedigree as a respected international baseball organization.”

Shaikh said: “I am so proud of this historic team and I’m very grateful to Emirates Cricket Board for enabling us to elevate the UAE on yet another global stage. To go from formation to championship game in just one month’s time is incredible.

“From our managers, Eddie Diaz and Roger Duthie, to the entire coaching staff, to this passionate and talented group of players — everyone came together to positively share the UAE’s vision and values through sport. They truly got the world to take notice. The UAE baseball team, our new ballpark and our Baseball United professional games and brand have put Dubai and the UAE on the baseball map. And we believe it’s just the beginning.”

Diaz, a Hall of Fame manager in Mexico, has a professional baseball career that spans more than four decades, with experience as a player, manager and executive. He played Minor League Baseball with the New York Yankees, Atlanta Braves and Cleveland Indians, and also was a Major League Baseball scout for more than a decade. Diaz later managed in Mexico’s top summer baseball league, LMB, for 12 years and its top winter league, the Mexican Pacific League, for 11 years. He also won two Caribbean Series championships.

“As Kash often says, we made history,” said Diaz. “It was an honor for our team to represent the UAE. Most of these guys have spent the vast majority of their lives in this great country so they were very proud to have UAE across their chest. We are looking forward to continuing (to get) better with Baseball United’s leadership, guidance, and support.”

The team follows World Baseball Classic eligibility rules and regulations, which will enable broader representation and participation for local residents. In addition to citizens, WBC rules allow for permanent legal residents and/or players born in the national team’s country of territory to participate in its international events, as well as those with at least one parent who is a citizen of or who was born in the country or territory.

Globally, baseball is classed as a top five sport, with some 600 million fans. Most are located in the US, Latin America, Japan and Korea. In the US alone, professional baseball generates nearly $15 billion in revenue each year.

International tournaments are gaining in worldwide popularity, with the World Baseball Classic generating record attendance, viewership and revenue last year. Baseball is also set to appear in the 2028 Los Angeles Olympics.


Pakistan wants ICC explanation after India’s Champions Trophy snub

Pakistan wants ICC explanation after India’s Champions Trophy snub
Updated 12 November 2024
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Pakistan wants ICC explanation after India’s Champions Trophy snub

Pakistan wants ICC explanation after India’s Champions Trophy snub
  • India have refused to travel across the border for next year’s Champions Trophy
  • India have not toured Pakistan since 2008 because of soured political relations 

The Pakistan Cricket Board has sought clarification from the sport’s governing International Cricket Council (ICC) following India’s refusal to travel across the border for next year’s Champions Trophy, a PCB spokesperson told Reuters on Tuesday.

India have not toured Pakistan since 2008 because of soured political relations between the neighbors, who play each other only in global multi-team tournaments.

Pakistan hosted the Asia Cup last year but winners India played all their matches in Sri Lanka under a “hybrid model.”

The PCB has ruled out a similar arrangement for the Feb. 19-March 9 Champions Trophy despite the Indian Cricket Board (BCCI) maintaining its stance of not sending a team to Pakistan citing government advice.

“The PCB has sent a letter to the ICC seeking clarification,” the spokesperson said, adding it was awaiting Pakistan government advice before deciding their next step.

“The PCB received an email from the ICC late last week, stating that the BCCI has informed them that their team will not travel to Pakistan...

“The PCB has forwarded that email to the government of Pakistan for their advice and guidance.”

ICC officials were not immediately available to explain how it planned to resolve the uncertainty around the elite 50-overs tournament.

While India’s presence is crucial to the commercial success of the ICC event, Pakistan might pull out of the tournament should it be shifted out of the country, the Dawn newspaper reported on Tuesday citing sources.

The ICC is in talks with the PCB and the participating boards before finalizing the schedule of the eight-team tournament.


Dubai Basketball’s winning streak comes to an end in Serbia

Dubai Basketball’s winning streak comes to an end in Serbia
Updated 12 November 2024
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Dubai Basketball’s winning streak comes to an end in Serbia

Dubai Basketball’s winning streak comes to an end in Serbia
  • Team from the UAE lost 82-61 to ABA League leaders and EuroLeague powerhouse Partizan Mozzart

DUBAI: Dubai Basketball’s dominant four-game winning streak has ended in Serbia with an 82-61 defeat to ABA League leaders and EuroLeague powerhouse, Partizan Mozzart.

Jurica Golemac’s side went into Sunday night’s heavyweight clash looking to give Partizan their first loss of the season.

However, the home side, spurred on by their passionate fans, rose to the occasion to extend their perfect record to 8-0.

The charge was led by former Chicago Bulls, Denver Nuggets and Dallas Mavericks star, Carlik Jones, with 17 points on the night.

Dubai started the contest in a positive manner, with a three-point lead through the first quarter of play.

But it was not enough, as the home team rallied with a staggering defensive second quarter that saw Dubai score just eight points.

Despite being underdogs, Dubai fought hard, clawing their way to within six points with just four minutes left on the clock.

The final score left Dubai with their second loss of the season, a 6-2 record, and just two points behind Partizan with the highly anticipated rematch already marked on the calendar.

Speaking of his team’s performance, coach Golemac said: “The organization of the game suffered a lot, we did not manage to place the ball where we wanted to.

“Defensively, it wasn’t that bad with the defensive changes in the first half. The plan was to stay close especially as there were four minutes left, but we didn’t last.”

After three away games across Europe, Dubai Basketball will return home to the Coca-Cola Arena to take on Slovenia’s Krka on Nov. 17.

Fan favorite Isaiah Taylor had nothing but praise for the Dubai Basketball supporters. “Our fans are incredible, they get into it every game and really motivate us.

“We say it all the time, when our fans get loud, the arena comes alive — they’re what it’s all about.”