IPL franchise Kolkata Knight Riders (KKR) are growing faster financially than English Premier League giants Manchester United according to the Board of Control for Cricket in India (BCCI).
Shah Rukh Khan with the 2014 IPL Trophy
The Indian Premier League franchise, according to the BCCI’s Annual Report, grew at 300% in 2015/16, while Manchester United’s growth rate was 204%. The IPL, in money terms, is now 0.6% of India’s Gross Domestic Product. As a brand it’s worth $4,500million.
KKR won the IPL in 2012 and 2014 and is owned by Bollywood star Shah Rukh Khan.
The report also said that IPL was the fastest growing sports league in the world based on social media statistics which saw the Twitter following for the tournament grow by 300% between 2014 to 2016. The UEFA Champions League showed the second highest growth at 239%. The National Football League (NFL) grew by 125%, while the National Basketball League (NBL) and the Major League Baseball (MLB) occupy the fourth and fifth position on the list at 99% and 75%, respectively.
As per reports, the IPL is growing at a rate of 300% annually on Twitter, which is fastest among all the top sporting leagues in the world since 2014 - the UEFA Champions League is next with 239%, with NFL (125%), NBA (99%) and MSL (75%) following it.
The league has continued to grow since it’s debut year of 2008 despite well publicised spot-fixing scandals. The BCCI claimed the television viewing figures passed 100million in 2016.
Broadcasting Rights to be tendered
The BCCI is preparing to open a tender process for the global broadcasting rights of the IPL. The rights are currently held by Sony Pictures Network India, for a 10-year-period, but that contract ends in 2017. Amazon have offered to bid.
The development has worried giants Sony who wish to renew their existing deal. A bidding process could see them lose the rights or be made to pay a significantly higher figure.
NP Singh, CEO, Sony Pictures Network (SPN), told The Times Of India: “As a responsible sports body, we expect the BCCI to honour the terms of the contract, just as every reputed organization would do.”
Sony maintains it has spoken with the BCCI and asked them to submit a “final written offer” as mentioned in its IPL contract, claiming it has the first rights to negotiate terms of renewal.
James Buttler
As the editor of Cricket Badger he is intent on building the website to give quality coverage of the domestic game around the world.
James was the full-time Media Manager at Yorkshire County Cricket Club between 2007 and 2010.
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Latest posts by James Buttler (see all)
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