Club owners of Indian Premier League Franchises: What is their role?
In 2008, following the commencement of the first edition of the Indian Premier League (IPL), Cricket Mania had taken over South Asia.
Delhi Capitals owner Parth Jindal speak to the media at a press conferenceThe league still remains popular today, with the next season beginning on March 26, 2022.
One of the most exciting aspects of the league is the franchises and their owners. The perfect concoction of cricket, Bollywood, and wealth has turned IPL into the biggest Twenty20 cricket league in the world today. Although we're familiar with the players of different franchises, the role of club owners has eluded most people’s knowledge. So here is a list of everything that we know that characterizes the owner of an IPL franchise.
Popularising a franchise
The popularity of an IPL team ensures a massive fan following. As a result, stadiums are packed with applauding spectators, sponsors file in for a share in the franchise, and business expands.
One of the most successful club owners in that regard is Shah Rukh Khan, who owns the Kolkata Knight Riders (KKR).
Due to the King of Bollywood's popularity, Kolkata Knight Riders became the most followed and supported team of the league.
Kolkata Knight Riders have an entire stadium at its disposal and the most die-hard fans in Kolkata. SRK indulging the crowd at Eden Gardens has also prompted more people to watch their matches.
King Khan also tempted Nokia, Belmonte and Tag Heuer, among others, to become the team's principal sponsors. Likewise, the Chennai Super Kings is also a fan favourite due to Captain MS Dhoni's popularity in the country.
Moreover, its owner India Cements is a popular name in the cricket circuit in Chennai which helped the team establish brand-based relations.
Being a good entrepreneur
IPL franchise owners have realised the importance of good management, impactful business models, human resources management and communication in the world of the league.
Lachlan Murdoch's Emerging Media, the owner of Rajasthan Royals (RR) specialises in sports management, which has pushed the team to success despite not having Bollywood stars to promote it.
Fraser Castellino, the CEO, takes pride in his company's business sense. As they worked on cost management, KKR focused on optimising its revenue and rendered itself successful.