The Olympics, which claims to be a global movement, hasn’t yet set foot in South Asia. Cricket, it may be said, opens up South Asia like nothing else can for the IOC. And that’s what makes its inclusion financially sustainable, yet another very important consideration for the LA28 organisers.
“Facts are facts. This estimated number of 2.5 billion cricket fans worldwide is going to be a game-changer for the LA28 games, but also for the whole Olympic movement,” said Niccolo Campriani, sports director of the 2028 Los Angeles Olympic Games, commenting on the inclusion of cricket and the significance of the Indian market.
Campriani is right. Just going by the numbers, cricket’s inclusion in the world’s greatest sporting spectacle is a no brainer. With billions consuming the sport in South Asia and its ever-growing diaspora, cricket is the perfect foil for the International Olympic Committee (IOC) to enter a market that has so far remained untapped.
The Olympics, which claims to be a global movement, hasn’t yet set foot in South Asia. Cricket, it may be said, opens up South Asia like nothing else can for the IOC. And that’s what makes its inclusion financially sustainable, yet another very important consideration for the LA28 organisers.
“It was not just important for cricket. It was important for the entire package. While we wanted to put together the most compelling program ever, we have a steadfast commitment to do that in a financially sustainable way. And we breathe financial responsibility every single day. When it comes to a new sports proposal, that was one of the key considerations and a bit of a north star. So, it was important for us to know that every single new sport that we would include would be financially sustainable,” explained Campriani.
With Prime Minister Narendra Modi making a pitch for India’s possible bid for the 2036 Games and the 2029 Youth Olympics, it is only natural that the Indian market could turn more important for the IOC and vice versa.
Indian corporates have now realised the importance of the Olympics as a brand and are ready to invest in it. Performances at the Asian Games have helped and a good show at Paris 2024 could do a lot for the brand Olympics in India. “India and the sub-continent is a very important market for the IOC,” said AnneSophie Voumard, managing director, IOC television and marketing services. “The relevance of India as a part of the Olympic movement can never be overstated. And the inclusion of cricket is a very good step and one in the right direction. It is an opportunity to engage more with the Indian audience.
“In fact, it is not just the Indian audience, but also the growing Indian diaspora. The IOC is certainly looking at India with serious interest. India is now home to some of the world’s largest and most credible business conglomerates and the IOC is always on the lookout to try and work with the world’s leading corporations. It makes this match a very strong one”.
Presently, the value of Olympic rights in India is pittance when compared to cricket. While the Paris 2024 rights went for about Rs 240 crores, the inclusion of cricket in the LA 2028 programme is now expected to drive the rights value up by at least 10 times taking it closer to Rs 2,500 crores, if not more. This is expected to add to the brand value of the Olympics, making it the second most lucrative sports property in India, second only to the IPL.
The euphoria and interest around the IOC session in Mumbai, the success of Olympic Values Education Programme (OVEP) in Odisha and the determination to host the Youth Olympic Games in 2029 have all made India the growth area for the IOC. And a potential bid for the 2036 Games means this is now a process that will gather steam going forward. A medal around Virat Kohli or Shubman Gill’s neck in LA can only help speed up the process a few times more.
(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.economictimes.com.)
