Hurrah! Thanks to IPL, American Money Has Discovered Indian Cricket Finally. In the decade since RedBird Capital Partners was founded as a private investment firm, Gerry Cardinale has acquired interests in Fenway Sports Group, the YES Network of the New York Yankees, and the Italian soccer team AC Milan. One of his partners, Alec Scheiner, already worked as a vice president of the N.F.L.’s Dallas Cowboys.
Gerry Cardinale and Alec have a great idea about how big businesses work; NFL is an example. But it is a massive surprise for the people that have put their eyes on Indian cricket; they are investing massive amounts of money in the IPL 2023.
“When we first started looking at cricket, we were by no means experts,” Scheiner said. “But the more we studied it, the more we realized it felt like the N.F.L. did 20 years ago.”
For this reason, RedBird invested in the Rajasthan Royals and bought 15 percent of the stakes in 2021, totaling 37.5 million. The money poured into the competition over the past 15 months suggests that RedBird got a bargain.
The contract was closed after four months. An IPL expansion team sold for $940 million. Eight months later, IPL negotiated new agency agreements for $6.2 billion.
At over $1 billion per year, The IPL currently earns annual broadcast revenues similar to those of premier leagues like the NFL ($10 billion annually), the English Premier League (about $6.9 billion), and the NBA ($2.7 billion). IPL presents positions behind just the NFL.
In the bidding war for the broadcasting rights last year, Disney and Sony were among the bidders. Moreover, CVC Capital Partners just added an IPL team to a portfolio with stakes in rugby and football. Among those who beat it? The American owners of the N.F.L.’s Tampa Bay Buccaneers and the English soccer team Manchester United.
Roy Tipu is a cricket enthusiast and one of the founders of Crickist, a website that covers the latest news, analysis, and opinions on cricket. He is passionate about the sport and has been following it since his childhood. He has played cricket at various levels, from school to club, and has a wealth of personal experience and knowledge on the game.
As the content manager of Crickist, Roy Tipu oversees all aspects of content creation and distribution. He plans, executes, and monitors the content strategy and social media presence of the website. He also writes articles, reviews, and editorials on various topics related to cricket, such as players, teams, tournaments, records, and controversies. He is known for his insightful and engaging style of writing, which attracts and retains a loyal audience of cricket fans.
Roy Tipu has a degree in journalism and mass communication from the University of Punjab. He has also completed several courses and certifications on digital marketing, SEO, and content writing. He has worked as a freelance writer and editor for several cricket websites and magazines before launching Crickist with his partners in 2022.
Roy Tipu is based in Lahore, Pakistan, where he lives with his wife and two children. He enjoys watching and playing cricket, reading books, and traveling in his spare time. He is also active on social media platforms, such as Twitter, Facebook, and Instagram, where he shares his views and interacts with his followers.