The IPL has attracted not only players from the top cricketing nations, but audiences from around the world. Well, those that get the coverage, at least. The mix of international players - retired, current, and fringe - have complimented, mentored, dominated and in turn been dominated by the local talent - making IPL a must see series (if you can see it ;)), and turning T20 into a very bankable format. IPL has done a lot for cricket, Indian and otherwise.
The retired players have managed to make their last big score from the game - hopefully something that will allow them to enjoy their retirement, rather than forcing them into business, commentary roles, or bad blogs. They have given fans an opportunity to see them in action again, and in sometime instances wonder why they retired in the first place. Perhaps the lure of the US$ overcomes the lure of the other retirement reasons.
The current players have managed to add yet another tributary to the rich river that is their revenue stream. and to pass on current valuable skills and information to other players. At a time when players complain that they are playing too much cricket (a phrase which seems to me like someone complaining that they make "too much money"), they seem more than willing to sacrifice their time for the IPL series. Perhaps this is a sign that players should be getting paid larger match fees or retainers.
The fringe players have the chance to prove that they might warrant a shot at the top level in their own country. It gives them exposure to international players as team mates and opponents, which is vital for their development as players. It also gives them a decent form of income so that they can devote their time to cricket.
Each IPL team, however, must maintain a certain number of Indian players. There is nothing wrong with this, as far as the IPL goes, but the future of cricket could well be based on this template, with a twist - rich companies/teams/etc. fielding teams of international players with no requirement for local talent.
Is this truly the future of cricket? Players from around the world, forming teams owned by conglomerates, and the locals are expected to support them? The USA has done this, well, forever with their sports, and it seems to be a model that works for them there. The hardest part will be to organize things. Does it become like a World Cup, where the teams play in one locale for a season, and rotate every season, to allow franchises to have home grounds? Or do things just remain as they are now, with individual tours for the teams like the tours for the countries now? Will there be salary caps, so teams with a large budget can't simply purchase all the best players, so that they can field the strongest side, and hamper the opposition by not allowing them to have access to certain players? Or perhaps a cap on the size of the squads? I'm sure that the powers that be will work out a system that works, and hopefully continues to allow the fans to see good cricket on a regular basis.
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