Here's how BCCI earned Rs 5,120 crore from IPL 2023, 116% more from 2022

In India, the growth of cricket over the past few decades has been fuelled by the Board of Control for Cricket in India that also happens to be the richest cricket board globally. Registered under the Tamil Nadu Societies Registration Act, 1975, the Board of Control for Cricket in India, popularly known as BCCI, is the one body that has been driving the game in India, and overseas.

Recently the BCCI has added another feather to its cap after it was revealed that the cricketing body had clocked a whopping Rs 5,120 crore from the Indian Premier League (IPL) 2023. A report in The Economic Times on Tuesday said that the earnings from the 2023 season - which was won by the Chennai Super KIngs in a scintillating final at the Chepauk Stadium in Chennai - marks an impressive 116% increase compared to the IPL 2022 version, In 2022, the cricketing body had earned Rs 2,367 crore from the two-month-long cricketing extravaganza.

BCCI¡¯s Total Income from IPL 2023 Sees Significant Growth

Credit: BCCI

The BCCI¡¯s total income from IPL 2023 saw a remarkable 78% year-on-year increase, reaching Rs 11,769 crore. However, this growth came with a 66% rise in expenses, worth Rs 6,648 crore, as reported in BCCI's 2022-23 annual report. This impressive financial growth was largely driven by new media rights and sponsorship deals.

New Media Rights Deal Fuels BCCI's Earnings

A significant part of BCCI's increased earnings from IPL 2023 came from the new media rights deal worth Rs 48,390 crore for the 2023-27 period. This deal started with the IPL 2023 season. In 2021, Disney Star secured the IPL TV rights for Rs 23,575 crore, while Viacom18-owned Mukesh Ambani's JioCinema secured the digital rights with a Rs 23,758 crore bid. Disney Star previously secured both the TV and digital rights for IPL from 2018 to 2022, and it paid Rs 16,347 crore for these five-year rights.

Sponsorship Deals Contribute to BCCI¡¯s Revenue Boost

BCCI also earned significant revenue from sponsorship deals. The board sold IPL title rights to Tata Sons for Rs 2,500 crore over five years. Additionally, associate sponsorships with brands like MyCircle11, RuPay, AngelOne, and Ceat brought in Rs 1,485 crore.

Media Rights Income Surges by 131%

BCCI¡¯s media rights income from IPL 2023 surged by 131%, reaching Rs 8,744 crore, compared to Rs 3,780 crore from IPL 2022. This sharp rise in media rights revenue played a key role in boosting BCCI's overall income.

Increase in Franchise Fees and Sponsorship Revenue

Credit: X

BCCI¡¯s earnings from franchise fees rose to Rs 2,117 crore in 2023, from Rs 1,730 crore in the previous season jumped by 22%. Sponsorship revenue also increased slightly by 2%, Rs 847 crore compared to Rs 828 crore in IPL 2022.

BCCI¡¯s Strong Financial Position

By the end of FY23, BCCI¡¯s bank balance stood at Rs 16,493.2 crore, held in savings accounts, current accounts, and fixed deposits. This is a substantial increase from Rs 10,991.29 crore the previous year. Additionally, BCCI distributed Rs 4,670 crore to IPL franchises from the central pool during the 2023 season, a significant jump from Rs 2,205 crore in 2022.

BCCI¡¯s Overall Financial Performance in FY23

BCCI¡¯s overall surplus for FY23 rose by 38%, Rs 3,727 crore. Meanwhile, its income increased by 50% to Rs 6,558 crore, with expenses rising by 70% to Rs 2,831 crore.

Women¡¯s Premier League (WPL) Adds to BCCI¡¯s Earnings

BCCI also found success with the launch of the Women¡¯s Premier League (WPL) in 2023. The board earned a surplus of Rs 377 crore from the WPL, generating Rs 636 crore from media rights, franchise fees, and sponsorships, while incurring expenses of Rs 259 crore.

BCCI¡¯s Contribution to the Indian Economy

On August 6th during the Monsoon session of Parliament, Minister of State for Finance, Pankaj Chaudhary, revealed that BCCI paid Rs 2,038 crore in GST during FY23 and FY24, showcasing the board¡¯s significant economic impact.

BCCI¡¯s net worth

According to a report from Cricbuzz, in 2023, the BCCI's net worth was estimated at $2.25 billion (around Rs 18,490 crore), making it by far the richest cricket board in the world. Cricket Australia (CA) comes in second place, but their $79 million net worth is over 28 times smaller than India¡¯s.

BCCI¡¯s financial performance in IPL 2023 showcases the board¡¯s strategic planning, successful media rights negotiations, and lucrative sponsorship deals. The substantial earnings emphasize the growing value of IPL, reinforcing BCCI's dominance in cricket. With such strong financial momentum, BCCI is well-positioned to continue its success in the coming years.

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