Saturday, March 26, 2011

England Match Report #5: Sri Lanka (Ashes devalued)

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In these uncertain economic times. there is bad news for cricket. The ongoing ICC Cricket world Cup may guarantee a blockbuster closing but Test cricket's marquee event "The Ashes" has lost 75% of its valuation over the last few weeks. This according to the "American Institute for Valuations of all things Sports"  (AIVS)

Valued at well over $500 Million of today's dollars just before World War II, its valuation according  to AIVS Chief Valuator, Guesty Mate, peaked to about a $750 million dollars; also in today's dollars; in the 1950s. Its valuation has declined steadily since but what we are seeing now is an unprecedented acceleration in its devaluation.

After England, Australia and South Africa were all eliminated in the quarter finals, The value of the Ashes has hit an all time low. South Africa do not play the Ashes... technically... but their fortunes, recently have been linked to the value of the Ashes.

The MCC have always kept their distance from any organization that tries to put a monetary value on cricket's traditional trophy, claiming that the Ashes series is not for sale. Taking a dig at the IPL, the MCC President had said a few weeks back, that "unlike the IPL the Ashes is not about money"

Explaining the valuation model, Mr. Maite explained that it is common knowledge that the Ashes are not for sale but the value is an estimate of the probable bid the Ashes might receive if a private investor; lets just say Larry Ellison; were interested in buying the event.

When asked to comment on the ridiculously low valuation, Mr Maite offered a range of possible reasons. The Ashes thrives on exclusivity and adequate spacing between 2 series'; he explained. Potential investors are not taking the decision to host back to back Ashes as a positive. Neither Australia nor England are the top teams in either Test or ODI cricket and the market places no premium on T20 titles because they tend to change hands on a monthly basis. Investors are also predicting a slump in demand for the Ashes in Australia.

On the significance of 3rd party revenue generated from countries outside of Australia and England; traditionally there has been only a moderate demand for the Ashes in the Indian market but that was when both England and Australia were considered benchmark teams. Investors don't believe Indians will tune in to watch either Australia; who won only a single game against strong opposition; or England; who were completely spent by the time the quarter-finals arrived.

Then in uncharacteristic fashion Mr. Maite burst out; I mean f..k, what value does the Ashes have, when the holder falls a 100 runs and 10 wickets short of making a WC quarter final a contest? I say the $7.99 valuation we came up with is too darn generous.

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Govind Raj said...

South Africa will rise from ASHES, says Smith,
Both England and Australia say there' a glitch..
England because they believe they own the urn,
Australia because they feel it is their turn !

Golandaaz said...

Now you are doctoring the words, doctor. good show!