Hardcore cricket enthusiasts who swear by gentlemen in whites engaging bat with ball over five full days may have nothing but contempt for the Indian Premier League and, by extension, the Twenty20 brand of ‘instant’ cricket itself. Yet the fact is that IPL — the strange animal which burst on the scene in 2008 showcasing Twenty20 cricket played by men dressed in garishly coloured clothing with ad labels falling off their apparel, cheered along by film stars and scantily clad cheerleaders — is now a hot brand valued at $4.2 billion (by valuation and corporate finance firm Duff & Phelps). Whether the purists like it or not, the fact is that the 45 days that the event plays out in mid-summer every year is eagerly anticipated by fans and players, not to mention sponsors who have faithfully backed the property every edition.

The league has weathered many a storm and has confounded critics by its resilience to controversies. The person who started it all, Lalit Modi, is now a fugitive, as is Vijay Mallya, owner of the popular Royal Challengers Bangalore team. The spot-fixing and betting scandal of 2013 which hit at the very base of fair-play would ordinarily have proved fatal for any sport-based event. Fans and viewers had every reason to feel betrayed and desert IPL. Yet, the league not only managed to ride out the storm but also grew its revenues despite Pepsi terminating its title sponsorship. The betting scandal did take some sheen off the event as two of the most successful franchises with a large fan following — Chennai Super Kings and Rajasthan Royals — were banned for two years. But BCCI, the parent of the league, managed to sell the annual title sponsorship to Vivo which paid a quarter more than its predecessor Pepsi did. This is a tribute not to the cricket board’s marketing skills but to the popularity of the game in the country. People have thronged the stadiums and viewership is soaring — Sony Pictures Networks India, which has the telecast rights, earned ₹1,200 crore last year from the event.

The mushrooming of similar events in other sports such as the Indian Super League, Pro-Kabaddi League and Indian Badminton League show that there is a gap out there to be filled. The IPL has done its bit for the economy as well, filling up hotels, flights and stadiums and giving a boost to the local ecosystem wherever IPL matches are played. The business of sport seems to have well and truly arrived in this country, and with it all the elements of a consumerist culture. It can only mean good for the economy.