BCCI's revenue from IPL 2023 comes out in public; shocking numbers emerge
Published - 20 Aug 2024, 02:00 PM | Updated - 23 Aug 2024, 01:18 AM
The Board of Control for Cricket in India (BCCI) has reportedly earned a whopping revenue after the Indian Premier League (IPL) 2023 season. The Board of Control for Cricket in India saw a significant revenue boost from the IPL 2023 season, with a 116% increase from the previous financial year.
The IPL is the top T20 league in the world, with impressive growth over the years. The BCCI has become the richest cricket board worldwide after the media rights deal. The BCCI is poised to see even higher earnings in the next season, given the league's growing popularity and increasing fees.
The BCCI has solidified its status as the leading cricket board globally after financial success from IPL 2023 and the launch of the Women’s Premier League. The board earned more than Rs 5000 crore from the tournament in 2023 through new media rights, increased franchise fees, and sponsorship deals.
IPL Sees Revenue Boom With Media Rights Deals
According to the Economic Times, the BCCI's 2022-23 annual report revealed a surplus of Rs 5,120 crore from the IPL 2023 season. The board saw a 116% increase from the Rs 2,367 crore surplus in the previous year. The surge in revenue is due to the new media rights and sponsorship deals introduced in 2023.
The BCCI earned a massive income of Rs 11,769 crore from the IPL 2023 season. This growth stems from the new five-year media rights deal. The board had sold media rights from 2023 to 2027 for a whopping Rs 48,390 crore. The board's expenditure also increased by 66% to Rs 6,648 crore in the IPL 2023.
Disney Star Secured IPL TV Rights For Rs 23,575 Crore
Disney Star secured the IPL TV rights for the 2023-27 cycle with a bid of Rs 23,575 crore. Viacom18 won the digital media rights for Rs 23,758 crore. Tata Sons acquired the title sponsorship rights for Rs 2,500 crore over five years. MyCircle11, RuPay, AngelOne, and Ceat contributed another Rs 1,485 crore.
BCCI’s media rights are valued at Rs 8,744 crore in the IPL 2023, a 131% rise from the previous season. The board had earned Rs 3,780 crore for media rights in 2022. Franchise fees increased to Rs 2,117 crore from Rs 1,730 crore the previous year. Sponsorship revenue also went up by 2% to Rs 847 crore.
Ajimon Francis, managing director of Brand Finance India, highlighted that BCCI's financial success puts it in a strong position within world cricket. He suggested that the BCCI should leverage its achievements to promote the game globally by supporting various cricket leagues and grassroots initiatives.
"The BCCI is in an enviable position in world cricket. Having achieved so much financially, BCCI should take the lead in spreading the game globally by supporting leagues or grassroots cricket," said Ajimon Francis.
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