Over the years, IPL team owners' role has grown

The IPL invited private investment into cricket and discovered (perhaps accidentally) a magic formula that makes insane money for everyone playing this game.

- Amrit Mathur

The IPL invited private investment into cricket and discovered (perhaps accidentally) a magic formula that makes insane money for everyone playing this game. The IPL changed cricket's architecture by creating a Rs27 crore player and an alternate power centre—the team owner, the new boss.

Team owners are serious businessmen who invested serious money into cricket. For them, the franchise is a commercial asset (some dismiss it as an expensive toy) and the IPL is both pleasure and business.

The IPL investor/owner calls the shots; he holds the remote control and pushes buttons. During auctions, he takes calls on the careers of players by picking up the paddle, or shaking his head to reject those he does not fancy.

IPL teams reflect the vision and the personality of their owners. That is why MI is very different from Gujarat Titans or Punjab Kings. MI is a grand, rich, mega brand which (obviously) plays cricket and supports players even outside the IPL. It also has an impressive non-cricket profile with extensive CSR activities in community engagement, education and women empowerment.

CVC-owned Gujarat Titans, in comparison, is a hardcore business proposition focused on delivering a positive ROI for its investors.