IPL and the free market delusion
On i3j3 Cricket, Mahesh Sethuram argues that the IPL has little to do with free markets, and blasts the BCCI for putting money-making ahead of developing the game.
So, IPL will sell its title rights, franchise rights, broadcast rights, the fours, the sixes, and all the other centralized rights to the highest bidder, but the players have to bear with a budget cap enforced on their employers. There are further caps on uncapped Indian players, defined catchment area for each franchises, an RBI priority sector burden styled requirement to carry a certain number of U-22 players as well. So, outside of private ownership and big money, there is not a semblance of the principles of free markets in IPL. And big money as such has nothing to do with free markets, but it’s a convenient narrative fallacy in India, because of the correlation between our stupendous increase in living standards and opening up of the economy in the early nineties.