A game of cricket might have been won, but the credibility of IPL and the people behind is lost. While the investigations and judgements will take their own course, it is time that we, as Indians, and for the love of cricket, demand a fair and transparent administration of this sport. I have a suggestion to end the current crisis and would like to share that with you.
As an immediate measure to put a method to this madness, each franchisee must be incorporated as a public limited company where 60% of the shares must be offered to the public via the IPO route and 40% can remain with Franchisee owners as promoters of the company. In such a case the future market cap or valuation will be decided by the stock market, which I am sure is quite sensitive to the industry fundamentals.
I can see two huge benefits. One, The administration of the IPL will be carried out under the well established regulatory and governance mechanism put in place by Govt bodies such as SEBI, ICAI, Dept of Company Affairs etc. And Second, it converges India's biggest passion (cricket) with its economic engine i.e the stock market and allows people to share wealth while they cheer for their favorite team. Additionally, the menace of illegal betting can be reduced as people will prefer to derive benefits via the stock market rather than the illegitimate means.
Just think, what is getting created here.....A situation which is referred by the economists as " Consumer surplus" where you enjoy your favorite sport and make money too.
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Not a bad idea sir..Having a public accountability would be the best idea...quite an amazing thought!!!!
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