Kings XI Punjab have an aura of glamour and verve around them thanks to owners Preity Zinta and Ness Wadia. They boast the services of the flamboyant Yuvraj Singh and dependable Sangakkara; the destructive Irfan Pathan and experienced Jayawardene. So when the first edition of the IPL kicked off, the team from India’s lion-hearted state were looked on with awe and admiration. But the side could not progress beyond the semi-final stage.

In 2009, the spectacular South African setting did little to embellish the team’s chances – they bowed out before the semis, depleted by the absence of Brett Lee and Sreesanth at various stages. Left-arm paceman Yusuf Abdulla was one of the finds of the tournament and he has been retained for the third edition. Luke Pomersbach and Nuwan Kulasekara were bought our ahead of the 2010 auction while they picked former India batsman Mohammed Kaif who is expected to recreate the magic with Yuvraj Singh in the Punjab side under new captain Kumar Sangakkara.

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Royal Challengers Bangalore, like Deccan Chargers, had ended up at the bottom of the table in the inaugural edition of IPL. Both teams ended up meeting in the final of IPL 2009 in South Africa. Anil Kumble-led RCB with great heart, but was unable to win the title. Kumble’s most impressive virtues as a cricketer – grit and determination – came to the fore in South Africa. The side lost four of their first five matches in IPL 2009, but made a startling comeback to make it to the semi-finals.

The team qualified for the CLT20 but could not qualify for the knock-out stage. The team has undergone a sea-change in terms of personnel and support staff from Season 2008 with new coach Ray Jennings making a huge impact. Former captain Kevin Pietersen’s participation is still debatable owing to an extended injury break. Their only buy at the 2010 auction was Englishman Eoin Morgan, but they also have in their ranks India’s under-19 captain Ashok Menaria while Nathan Bracken has been bought out.

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When Shahrukh Khan – India’s biggest movie star – co-purchased the Kolkata Knight Riders franchise, the nation couldn’t help but feel an affinity with the side. And when Brendon McCullum stormed into the competition with a whirlwind 158*, it drew a collective gasp of admiration from fans of the sport across the world. If Sourav helmed the side, then there was John Buchanan who powered the think-tank. But the team could not live up to expectations.

In the second season, suggestions of a multiple-captain approach drew a lot of debate but as it turned out, McCullum ended up leading the side throughout. But the side’s prospects did not improve. KKR ended the tournament pretty close to the bottom of the table. Ricky Ponting and Morne van Wyk have been bought out ahead of Season 2010, while Shane Bond has been bought at USD 750,000. U-19 player Harpreet Singh has also been picked for the tournament.

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What are biggest brands in the sporting world? FIFA, the English Premier League (EPL), the National Football League (NFL) of the US, National Basketball Association and Formula 1. Well, add the Indian Premier League to this list. IPL is definitely one of the biggest brands in the sports world and is growing every year.

A new study, carried out by a UK-based brand valuation consultancy for The Economic Times, states that IPL’s brand value is a staggering $4.1 billion.

The study by Brand Finance reveals that as an enterprise, IPL’s overall brand value more than doubled to $ 4.1 billion, or Rs 18,998 crore, in 2010 from a year ago. The study puts the combined brand value of all franchises at $333 million or Rs 1,542 crore.

And with two more franchises joining the extravaganza in 2011, Brand IPL is set for another big commercial leap. The Brand Finance study treated IPL as a single commercial entity, aggregating the income that BCCI and the franchises will generate, and their expenditure. All cross-charged income and expenditures have been ignored to arrive at the total worth, which it terms as the IPL Branded System.

“IPL can be seen as a precursor to emerging global brands out of developing nations and will definitely enjoy a first-mover advantage,” the Brand Finance India MD, Unni Krishnan, told The Economic Times.

Responding to the news, an elated IPL Chairman and Commisioner, Lalit Modi, told The Economic Times, “This is just the beginning and there’s huge value to be unlocked still.”

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In late June 2007, two men met in an English house, not far from the rain-drenched Wimbledon Championships, to discuss a very different sporting event. Lalit Modi, Vice-President of the Board of Control for Cricket in India (BCCI) brainstormed with Andrew Wildblood of the International Management Group (IMG), the sports management giants. In April 2008, the maiden IPL tournament that Mr. Modi had conceived and developed, was underway.

February 2008 saw the frantic player auction that created a media frenzy. Among the bidders were some of India’s richest and most powerful names, from industrialists to film stars, adding to the event’s lustre. As the sums on offer began to emerge – $1.5m for Mahendra Singh Dhoni, $1.35m for Andrew Symonds, $950,000 for the inexperienced Ishant Sharma – cricket raised its eyebrows, held its breath and braced itself for a new era.

The opening ceremony was like nothing the sport had seen before and would not have been out of place as a curtain raiser for the Olympic Games. And much to everyone’s satisfaction, the cricket lived up to all expectations. The world witnessed the first ever Twenty20 competition played on a scale comparable to the biggest events in sporting history.

The public’s imagination was captured even before Warne’s Rajashtan Royals embarked on their competition-defining run. Helped by the presence at matches – and, invariably on the next morning’s front pages – of Bollywood stars such as Shah Rukh Khan, owner of the Kolkata franchise, and Preity Zinta, co-owner of the Kings XI Punjab, the early matches of the IPL attracted a huge television audience.

After the spectacular success of the inaugural tournament, news that the 2009 IPL would have to be played overseas was met with some resistance. But right from the magnificent opening ceremony to the closing festivities, viewers stayed hooked to the mega event that saw the Deccan Chargers led by Adam Gilchrist take top honours. In the words of Mr. Modi, “It’s been a success thanks to the people of South Africa.”

The Indian Premier League has moved from strength to strength in its two early editions. And the world has taken notice. The IPL has even made it to the fourth spot of the Forbes list of the world’s hottest sporting properties. The competition returns to India in March 2010 after its South African safari in 2009. The stage is set for a contest that is more compelling, spectacular and multi-faceted than ever before.

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