India, March 16 -- Film trade pundits would describe IPL as a 'super duper' blockbuster but when it started 18 years ago many thought it won't work. But straight from the onset, it was a spectacular success. As the league was meant to strengthen Indian cricket the IPL was a 'domestic tournament' with reservation for local players: it was mandated that 7 of the playing 11 had to be Indians.
As the league was investor friendly, teams were handed a generous financial deal. Its 'closed' nature meant no team would exit even if it performed poorly. Also, to ensure a level playing field, to give all an equal chance to win, teams were provided equal resources - the player purse - to build their squads.
To incentivise teams, the IPL set up an elab...