New Delhi, Feb. 19 -- The latest Indian Premier League auction once again underlined a familiar truth about India's sports economy: cricket commands capital; the rest compete for crumbs.

A 29-year-old uncapped cricketer from Jammu & Kashmir, Aaquib Nabi, was signed for Rs 8.2 crore at the IPL auction. At the top end of the market, marquee names fetched sums touching Rs 27 crore. The numbers barely raise eyebrows anymore in a league that has mastered the alchemy of television rights, sponsorship bundling and celebrity branding.

Now consider the contrasting trajectory of India's rising javelin thrower, Sachin Yadav. Fresh from a fourth-place finish at the World Championships in Tokyo, and widely seen as a potential medal contender at future...