Surely most of us have compared dollars involved in IPL and IBL, G Krishnan does some number crunching to put gulf in perspective.
What can IPL player Glenn Maxwell do with his $1 million price money? Well, the obvious choice would be fast cars, mansions and other luxury lifestyle related things. On another tangent, hypothetically, he can fund the Indian Badminton League (IBL) with his fee.
The only thing cricket about the IBL is Sunil Gavaskar’s co-ownership of the Mumbai franchise. Rest it is all proverbial chalk and cheese.
Cricket and badminton cannot be compared for the kind of following and market value each one has. However, badminton is quickly catching up in the country, at least in terms of popularity, thanks to Saina Nehwal and her achievements.
Despite the huge gap, IBL is expected go a long way in helping national shuttlers benefit monetarily and also provide a chance to play with some of the international stars.
Talking about the IBL with the voluminous IPL in the same breath is akin to placing an ant and an elephant on the same plane. But it makes for some interesting reading.
The total prize money in IBL is $1 million (approx Rs5.90 crore), the same amount that little-known Australian all-rounder Glenn Maxwell was bought by Mumbai Indians, thereby becoming the most expensive player in the 2013 auction. Whereas, the prize money in IPL is more than four times, at Rs25 crore (approx $4.2 million) with the winners walking away with Rs10 crore and the runners-up, Rs7.5 crore.
In order to buy an IBL team, each of the owners had to pay Rs3.5 crore besides another Rs1.5 crore cap to buy the players. These figures dwarf in front of the breathtaking figures that each IPL owner paid based on bids. The combined base price for auction in the inaugural auction in 2008 was $400 million while the auction fetched $723.59 million. Mumbai Indians became the most expensive team, costing $111.9 million then, and Rajasthan Royals, the least expensive at $67mn.
At the IBL auction held last Monday, the Indian shuttlers went for a combined total of $8,61,000. The foreigners went for $7,64,500 as a total of $16,25,500 was splurged on players.
The title sponsorship money in IPL is humongous. DLF paid Rs250 crore to be the tournament title sponsors for the first five years (from 2008-2012). At the beginning of 2013 season, PepsiCo took over the title sponsorship in a new five-year deal for Rs396.8 crore. IBL are expected to announce their title sponsors and reveal details on Monday.
Moving on to some of the players and their price at the IBL auction, World No. 1 Lee Chong Wei of Malaysia went for the highest price, purchased by Mumbai Masters for $1,35,000. Saina, India’s richest sportsperson outside cricket after she signed a contract with Rhiti Sports Management for Rs40 crore, was the second most expensive player at the auction, going for $1,20,000.
The corresponding figures in cricket are phenomenal. While the most expensive player in IPL (as per the 2013 figures) is MS Dhoni at $1.8 million, a player 93rd in the list gets a salary equivalent to that of Saina’s — CSK batsman Faf du Plessis. The player above him — Dutchman Ryan ten Doeschate — gets $1,50,000 playing for KKR.
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