Marked to market

The conflicts in global economy were highlighted once again at the bull run in Friday's IPL auction

Cricket, a non-linear game, has once again highlighted the conflicts in the global economy by organising a bull run at Friday’s auctions of players for the Indian Premier League. Just when the country was coming to terms with the fact that India is not really decoupled from the rest of the world's economy after all, an Indian cricket franchise has splurged cash when the US and the rest of the world are talking of bankruptcy and job losses. Interestingly, the franchisees include Reliance Industries, whose net profit for the third quarter of this financial year, without counting exceptional items, increased by just 3.4 per cent; India Cements, whose net profit for the period fell by half; and UB Group, whose Kingfisher Airline has put 25 per cent of its stock on the block to raise money to pay for fleet expansion and leases.

The beginning was ominous. Michael Clarke, Australia’s vice-captain, pulled out at the last minute, citing his country’s busy international schedule and family reasons. IPL Commissioner Lalit Modi, visibly upset, came on television to say that Clarke, given his high base price of $1 million, had pulled out lest he remain unsold. For good measure, Mr Modi added that Clarke may not get to play in the next season either. All doubts were dispelled, however, once the auctions began. In earlier years, English cricketers used to come to India under protest, and complain about the smog, crowds, traffic, food, and spices. Often they succumbed to the infamous Delhi Belly. On Friday, they dominated the auctions since they could not participate in the first season. And for $1.55 million, Kevin Pietersen cannot wait to pack his bags for crowded Bangalore, while Andrew Flintoff heads for balmy Chennai with the same price tag. They have surpassed last year’s highest prices that Chennai Super Kings paid for M S Dhoni. Another $275,000 are taking Paul Collingwood to Delhi. New Zealand’s Jesse Ryder has played one or two good knocks in one-day internationals, but is known more for his drinking problems. Bangalore Royal Challengers, owned by India’s largest beer maker, has paid $160,000 for him. The heartwarming story was Mashrafe Mortaza of Bangladesh, who was sold for $600,000, 12 times his reserve price. Mortaza was Kolkata Knight Riders' only bid of the night.

The larger story is not about individual price tags alone, but also about the way they have taken to the fledgling free market in cricket. The franchisees (will the word team soon go out of cricket lexicon?) have offered to pay what they think a player is worth. In the process, it has come to light that different people have very different ideas of what a player is worth. Cricketers, who not too long ago were looked upon as the only remaining gentlemen in sport, have taken to the free market more enthusiastically than anyone would have expected. IPL has raised rewards to new levels. It is worth waiting to see if it has also changed the character of the game.

It is footballers who have shown the way, along with basketball players in the US. Many of them have been known more for their exploits with their clubs than for their own country. But even they, at times, maintain that the only club they would like to play for is the one they are playing for. At times, they have also refused to move, though that may have got to do with the money. IPL cricketers have no such qualms. They are ready to nod and head in the direction of the highest bidder. Interestingly, spectators too have bought into the new way that things are done. Last season, when Mumbai played Delhi at the Kotla, Delhi fans erupted in joy at the fall of Sachin Tendulkar’s wicket. One would have thought such a thing would never happen in India.