IPL players auctions are reduced due to the impact of Demonetisation
In India, Cricket is a religion, it is not just a game. It is a religion where cricketers are Gods and every victory in the match is a festival. In India, cricket is the one which unites the people, gives the reasons to celebrate, gives heroes to look up and it is a habit of loving everything which is full of drama and no other sport in the world that gives more drama than cricket and hence, the people in India simply LOVE IT. The significance of cricket increased highly in India after Indian premier League(IPL), which is a professional twenty20 league in India founded by Board of control for cricket in India(BCCI) in 2007.It was of 10 years where the IPL has started, and the IPL players are from all worldwide countries.
All the previous years were full of fun, craziness and energetic where it attracted the audience and the BCCI revealed the IPL 2017 league which is going to host on April 5th, 2017 in Hyderabad. It also stated that there were issues regarding the player’s auction were in the earlier the auctions for the players used to be of high range, but due to the impact of Demonetisation there was a fall in the auction of the players.
Impact of Economics
It was a Sad news for other Indian cricket stars. Due to the Extensive changes that recently the Indian economy have triggered, shocks that it also impact the IPL and in this situation, it is going to highly affect in the auctions of the players just because of cash ban. 1000 rupee notes terminated to be legal tender, and the who charged top amount in the past could now found to be drastically diminished. Gone the days of crazy bids where there are situations the teams are paid Rs. 16 crores for Yuvraj and Rs. 8.5 for Pawan Negi. It also realized that amount to buy trophy consume a large share of the Rs. 66 crore player reward make no cricket or economic sense. The distilled experience of 9 IPL seasons suggests nobody, just nobody, earns that kind of a pay cheque.
Earlier, owners had gaudy purchases in the faith that stars would excite sponsors, drive ticket sales. But at present there were no such hopes and it also expected that only MS Dhoni and Virat Kohli have genuine economic pull. Revenue is practically unrelated to stars because fans are attracted by the IPL manifestation and not disproportionately fussed about teams and merchandise sales have turned out because brand reliability is weak and this revenue stream is in a perpetual state of drought.