With the Indian Premier League (IPL) 2023, the Board of Control for Cricket in India (BCCI) has had a financial boom, registering an exceptional excess of INR 5,120 crore. This remarkable amount is an increase of 116% over the 2022 edition.
Since its launch in 2008, the Indian Premier League (IPL) has grown to become both a successful corporate endeavour and a global phenomenon in cricket. The start of new television rights and sponsorship arrangements for the 2023 season was a significant milestone that drove the BCCI’s earnings to unprecedented levels.
According to the BCCI’s 2022–2023 annual report, the overall revenue from the 2023 Indian Premier League soared to INR 11,769 crore, a 78% year-over-year increase.
The new media rights contract worth INR 48,390 crore for the 2023–2027 cycle is largely responsible for this development. Disney Star offered INR 23,575 crore to win the IPL TV rights, while JioCinema, a Viacom18 company, paid INR 23,758 crore to obtain the digital rights.
From INR 3,780 crore to INR 8,744 crore from IPL 2023, the board’s revenue from media rights alone increased by 131%. The BCCI also strengthened its finances by entering into strategic sponsorship agreements, including as a five-year, INR 2,500 crore title rights contract with Tata Sons.
The managing director of Brand Finance India, Ajimon Francis, offered his thoughts on the BCCI’s financial achievements.
In the history of cricket, the BCCI has an excellent place. Francis stated, as cited by Economic Times, “BCCI should take the lead in promoting the game internationally by supporting leagues or grassroots cricket, especially after achieving so much financial success.”
The BCCI’s total surplus for FY23, excluding the IPL, climbed by 38% to ₹3,727 crore. By the conclusion of FY23, the board’s bank balance had risen from INR 10,991.29 crore to INR 16,493.2 crore.
The 2023 Women’s Premier League (WPL), which produced an excess of INR 377 crore, also made a substantial contribution. Through franchise fees, sponsorships, and media rights, the board receives INR 636 crore from the WPL.
Home