All that went into IPL becoming a blockbuster show

Film trade pundits would describe IPL as a "super duper" blockbuster, but when it started 18 years ago, many thought it wouldn't work.

- Amrit Mathur

But, straight from the onset, it was a spectacular success. As the league was meant to strengthen Indian cricket, the IPL was a "domestic tournament" with a reservation for local players; it was mandated that 7 of the playing 11 had to be Indians.

As the league was investor-friendly, teams were handed a generous financial deal. Its "closed" nature meant no team would exit even if it performed poorly. Also, to ensure a level playing field, to give all an equal chance to win, teams were provided equal resources – the player purse – to build their squads.

To incentivize teams, the IPL set up an elaborate safety net of financial securities. Owners were told the league would not expand beyond 10 teams – this barrier to entry created "scarcity value" and boosted team valuations.

The financial sweeteners didn't end here. Teams were gifted a subsidy through share of central revenue from media rights and sponsorship deals. And to keep costs low, they were spared the bother of constructing new stadiums. Instead, franchises were allotted existing international venues at a minor cost.