In a recent development, the Board of Control for Cricket in India (BCCI) is reportedly exploring the possibility of launching a T10 format cricket league, set to kick off between October and September next year, as per a report. BCCI secretary Jay Shay is said to be in the process of crafting a blueprint for this proposed league.
This move comes on the heels of the Indian Premier League (IPL), a 20-over format, witnessing a surge in viewership and valuation. According to a report by Brand Finance, the IPL has attained the coveted status of a decacorn, boasting a valuation of approximately $10.7 billion.
The current landscape reveals that franchises possess the authority to reject any novel models that the BCCI puts forth, mirroring the structure of the IPL. Those privy to the developments suggest that the BCCI must carefully consider certain factors before launching this new league.
Notable considerations include implementing an age bracket to avoid overshadowing the popularity of the IPL and devising mechanisms to ensure the participation of top white-ball cricketers.
The report indicates that cricket boards are currently grappling with insufficient earnings from bilateral series, and the introduction of a new series, coupled with a potential revenue-sharing model, could potentially bolster these boards financially. However, there is a concern that it might pose a threat to the existing 50-over format.
For India, the urgency for financial infusion might not be as immediate. Recent reports from Bloomberg suggest that Saudi Arabia is exploring an investment in the IPL. The kingdom is purportedly mulling over injecting up to $5 billion into the league and spearheading an expansion into other countries, akin to the English Premier League or the European Champions League.