The Board of Control for Cricket in India (BCCI) has reported impressive financial results from the Indian Premier League (IPL) 2023, revealing that it earned over Rs. 5,000 crore in additional revenue, marking a staggering 116% profit increase compared to the previous year.
This remarkable growth is attributed to several factors, including new media rights deals and enhanced sponsorship agreements.
BCCI’s Financial Highlights
The total income from IPL 2023 surged by 78% year-on-year, reaching Rs. 11,769 crore, while expenditures rose by 66% to Rs. 6,648 crore.
This has resulted in a significant surplus for the BCCI, which is now in a strong financial position to further invest in cricket development and grassroots initiatives.
How BCCI earn from IPL?
Media Rights: The BCCI’s media rights income saw a dramatic increase of 131%, totaling Rs. 8,744 crore for IPL 2023, compared to Rs. 3,780 crore from IPL 2022.
This increase is primarily due to the new media rights deal worth Rs. 48,390 crore for the 2023-2027 cycle, which includes substantial bids from major broadcasters:
- Disney Star secured TV rights for Rs. 23,575 crore.
- Viacom18 acquired digital rights for Rs. 23,758 crore.
Franchise Fees: Earnings from franchise fees increased by 22%, amounting to Rs. 2,117 crore, up from Rs. 1,730 crore in the previous year.
Sponsorship Revenue: The BCCI reported Rs. 847 crore in sponsorship revenue, a slight increase from Rs. 828 crore.
Title Rights: The title rights were sold to Tata Sons for Rs. 2,500 crore over five years.
Associate Sponsorships: The board generated an additional Rs. 1,485 crore from associate sponsorships with companies like MyCircle11, RuPay, AngelOne, and Ceat.
Overall Financial Performance of BCCI
The BCCI’s overall surplus for the financial year 2022-23 increased by 38%, amounting to Rs. 3,727 crore.
The board’s total income rose by 50% to Rs. 6,558 crore, while total expenditure increased by 70% to Rs. 2,831 crore.
Additionally, the BCCI reported a surplus of Rs. 377 crore from the inaugural Women’s Premier League (WPL), which debuted in 2023. The WPL generated Rs. 636 crore through media rights, franchise fees, and sponsorships, with an expenditure of Rs. 259 crore.
Future Prospects of BCCI
The BCCI’s financial success positions it as one of the wealthiest cricket boards globally, with a bank balance of Rs. 16,493.2 crore at the end of FY23, a significant increase from Rs. 10,991.29 crore the previous year.
This financial strength allows the BCCI to explore new opportunities for expanding cricket’s reach, including supporting leagues and grassroots initiatives.
