It’s a festival of cricket that attracts millions of people to watch it and providing them with entertainment thoughout the series.
The present scenario proved that IPL is not just a sport ,it’s a major tool used for converting all the black money kept hidden in swiss banks into legal money.
There seem to be few advantages with IPL such as,
Television rights fee from Sony-WSG - 20 per cent of $ 918 m
Promotion fee from Sony-WSG - $ 100 m
Franchisee fee - $ 723.6 m
Central sponsorship money - BCCI will keep 40% of the total Merchandising revenue - 12.5% of the total
Broadcasting share - 10% of BCCI's TV rights
Central sponsorship - 7.5% of the total
Gate receipts - 100%
Merchandising - 11 % of the totalStadium
hospitality - 100%
Prize money - $ 3 m for the winning team
PlayersAuction money - Could swing from a few lakhs to crores
Salaries - Minimum to be paid $ 20,000 a year
Endorsements - Individual deals
BroadcasterRevenue from advertising (Rs 225,000 lakh per 10 seconds)
Subscription from cable TV viewers
Except for money and cricket, IPL has got lots of drawbacks. They are as follows,
The main reason why IPL has grown this far is because of our rules and regulations that are exploited in possible favourable ways for the share holders.
What Government needs to do?
It is highly necessary to know the source of money invested in IPL and the person bringing the money from overseas. No board must be independent and an annual audit must be conducted by the government to ensure money spent is legal. The properties of share holders must be tracked continuously and income earned by share holders,players and whom so ever involved must be accountable. Transactions involved during auctioning players, providing telecasting rights to channels, salaries of players , security, advertisement, venues must be well documented and must be checked by IT officials periodically.