First, a caveat: I’m biased against
I don’t like the format, I hate the entertainment bit, I’m disgusted by the fawning and ‘schooled’ commentators (count the number of times they said Mongoose in the last match). I could go on and on about all that I dislike, but I’ll desist.
Evening before last, we learnt that two new franchises had been sold, one to the Sahara Group and one to person or persons unknown for astronomical figures.
Today, The Times of India
(I think) does a cool graphic comparing the valuation of the IPL teams compared to recent (up to a few years ago) proven valuations of EPL teams. And IPL teams compare well. Elsewhere, in the Hindustan Times
(I think), I learn that three of the franchisees plan to launch IPOs as and when they’re allowed. And in a third paper, Economic Times
(I think), there’s a piece with ‘professional’ valuation of the IPL at about one-third the value of the EPL, which is fantastic.
The whole valuation messaging is so cool that I’m reminded of another cool time when there were cool valuations – Web 1.0.
When there were millions of dotcoms valued at many billions of dollars, and the valuations kept skyrocketing until one day, the market huffed and puffed and blew the dreams down.
And I get uncomfortable when I see empty stands as the cameras chase the lusty blows, much to the discomfort of the online editors who must be under strict instructions to avoid such framing.
And I get uncomfortable when I see very few IPL T-Shirts being worn by youngsters when I go on my walks and I see Real Madrid, Arsenal, Manchester United and Liverpool T-Shirts, but hardly any Mumbai Indians or Kolkata Knight Riders or whatever.
And I get uncomfortable when I see the rare competition to IPL programming wise (since no TV channel pits any significant programming during the IPL) such as last Sunday’s Manchester United- Liverpool clash divides groups of friends. Which channel do you watch? When there’s an option, the question does arise.
And I get uncomfortable when the IPL apes the EPL in everything – but not in ensuring that owners and prospective owners pass the Fit and Proper Persons test
. Rendezvous? Who the @#$% is Alice?
And I get uncomfortable when I think of the numerous instances when franchising in India has made money for all but the franchisees (Home Trade, Brilliant’s Computer Centre, Stencil Apparels, skumars.com, etc).
And I think to myself, it’s still not a wonderful world. And that the emptor better caveat, if I can torture a phrase. The franchisors need to do a lot more to make the product safe for the franchisees.