Cricket is a profession. And it earns revenue. The professionals therefore deserve a cut of the revenue. Like any other fair business. Do you question it when Bond Traders get bonuses of 1 crore? Do you question it when film stars earn a crore? Then why would you not like Yuvraj earning a bonus of a crore which might be a small part of the revenue that he is responsible for generating? Dont quite get your logic.
Your observations of India are true of any capitalistic society. If you want equality for all then you should promote socialism and communism... but that has its own problems right?