India, Nov. 7 -- Cricket has always been a religion in India, but the launch of the Indian Premier League (IPL) in 2008 has driven the sport to new heights of popularity and success. Over a decade on from its inception, the IPL has become a global behemoth, a league that's on par with any in the world. But for all the glitz and glamour that surrounds the tournament, the IPL is built on a solid commercial foundation.

That the IPL is India's richest, and most popular, sporting event by an enormous margin is indisputable. But its success has now transcended national bounds and it takes its place alongside the biggest sporting events globally. In 2016, it was ranked 6th in a list of the most attended sports leagues in the world.

Even the sh...