I think you can make a very strong argument that the biggest revenue boost in any sport is winning. Winning equals bigger crowds which means higher ticket sales, higher merchandising and advertising revenue, and
prize money for finishing in a higher position
.
As we just saw in the previous IPL match between the Lions and RCB, despite Kohli scoring a century, RCB lost. One great player doesn't make for a great team, it is all about balance throughout the lineup. We can also point to the Indian side at the recent T20 World Cup as another example of this - their batting outside of Kohli and Dhoni was extremely weak.
As teams in the BBL are limited to a $1.3 million salary cap, it is imperative to get the right mix of players. Having 1 or 2 all-time great players and 9 or 10 mediocre players, isn't a recipe for a winning team, further evidenced by the fact that Gayle's team, the Melbourne Renegades, finished sixth and failed to make the play-offs, winning just 3 of their 8 matches.
If you are interested to learn more about this, I highly recommend checking out this study conducted by the guys over at
CricMetric
. It does a fantastic job of determining each players Runs Above Average value, his Win Probability Added and overall net value. Check out the incredible value offered by Moises Henriques - he provided a value of $1.45 million but was drafted at auction for a paltry $166,000 - a net value of $1.29 million. Conversely, James Faulkner provided a negative net value of -$535,000.
It is also worth pointing out that even with Gayle's appearance in this years BBL, Cricket Australia lost approximately $12 million on the revamped Big Bash, though they are hopeful of recouping their losses from a new TV deal at the end of next season.
One final point regarding star power, as BBL teams are only permitted to contract two overseas players in their squad of 18, it means only 16 overseas players can be drafted in total. As such, its not as though the drop off in star power from Gayle to whomever would replace him would be all that big. The likes of Jade Dernbach wouldn't be drafted in his place, but more likely someone along the lines of ABdV, Brendan McCullum, Faf du Plessis, Kane Williamson or Martin Guptill - all big names in their own right.