With over $1.7 billion being spent on franchise sales, television and promotion rights, the Indian Premier League (IPL) is poised to become one of the most lucrative sporting events to be launched in Asia.
On top of those funds, a further $40 million will be splurged by the eight franchises on cricket's top names in Wednesday's player 'auction' for the Twenty20 league starting on April 18. Dubbed 'The Great Wednesday Bazaar' by the Indian media, the Mumbai sale is sending the cricket world into a spin, with pay cheques starting at six figures for the services of leading players for what is essentially 44 days of action.
The officially sanctioned IPL, set up to counter an unofficial Twenty20 league that started last year, will feature 59 matches aimed at prime-time television in a country with the largest global cricket audience and multi-million dollar deals.
In addition, organisers clinched a five-year title sponsorship rights deal worth $50.3 million, signifying the rising corporate involvement in cricket in India, which has the fastest growing major economy after China.