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Cricket as a game, particularly in the Indian sub-continent has glamour, money, popularity and even public emotions involved in it. The national teams have the eyes and ears of millions of cricket enthusiasts upon them. Cashing in on this is a vast economy spawned by cricket, which has grown phenomenally over the years.

Knowledge@Wharton on cricket in India cites statistics on the stupendous growth of the cricket world. International Cricket Council (ICC), the sport's apex governing body, had a deficit of $ 150,000 in 1992. By 1997, it was no longer in the red and had made $ 25,000. It has been on the rise ever since. With 2007 World Cup, ICC was expected to make a profit of $ 239 million (Actual figures not yet available). Its main source of income is the world cup tournaments. The attempts such as ICC Champions Trophy and ICC Super Series have not been much of a success.

India's own BCCI, considered to be the richest cricket association worldwide, has increased its profits from $ 1.11 to $ 7.64 million during 2004-05 and 2005-06. The various cricket governing bodies have their income coming from ticket sales, television broad-casting and sponsorships. Given the huge following of televised cricket in India (200 million in the 2003 World Cup); companies have been willing to spend huge amounts on advertising. Thus, not surprisingly, 85% of the sponsorship for the 2003 World Cup came from Indian companies! India's dominance in the commercial space is evident in the spectator strength, the advertisements, the official global partners for specific events and the sponsorships.

Forbes Magazine's valuation of the cricket boards in 2006 pegs BCCI's worth at $ 1.5 billion, while ICC was at a comparatively lesser figure of $ 200 million. While there are 10 test-playing members of ICC, India contributes more than 70% of revenue to the entire sport. The magazine reports: "Most sponsorships and broadcast rights come from India, and Indian tours make foreign boards rich."

Televised Cricket: The Kerry Packer Effect

Cricket tournaments have generated increasing media attention as one-day internationals have become more established. The credit goes to Kerry Parker, the Australian media tycoon who changed cricket marketing and the experience of watching ODI.

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Dr. Mary Ipe is Professor HRM at ICFAI Business School, Kochi, Kerala.