The Board of Control for Cricket in India (BCCI) has received a financial windfall, earning a surplus of INR 5120 crore from the Indian Premier League (IPL) 2023, a 116% increase from the previous edition. According to a report in the Economic Times, revealed that BCCI’s earning from the IPL was INR 2367 crore in 2022.
As per BCCI’s annual report for 2022-23, total income from IPL 2023 incresed by 78% year-on-year to INR 11,769 crore, which the report attributes to the new media rights deal worth INR 48,390 crore for the 2023-27 cycle. Viacom18-owned JioCinema acquired the IPL digital rights for INR 23,758 crore, while Disney Star secured the IPL TV rights with a bid of INR 23,575 crore and the IPL title rights were sold to Tata sons for INR 2500 crore and made another INR 1,485 crore by selling other sponsorships to Ceat, MyCircle11, RuPay, among others. Hence, BCCI’s media rights income from IPL 2023 itself had incred by 131% to INR 8,744 crore, compared to INR 3,780 crore from the season prior.
BCCI also paid INR 4,670 crore to franchises from the central pool for IPL 2023 an increase from INR 2,205 crore for the previous season. BCCI’s total bank balance stood at 16,493.2 crore at the end of FY23, which is a surge by 10,991.29 crore from the last period.
“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,” Ajimon Francis, managing director of Brand Finance India, was quoted saying by Economic Times.
BCCI earned a collective amount INR 636 crore through media rights, franchise fees, and sponsorships for the Women Premier League (WPL), which started in 2023, while a INR 259 crore was spent.
Pankaj Chaudhary, the Minister of State for Finance, stated in the Rajya Sabha that the cricket board had paid a GST of INR 2,038 crore during FY23 and FY24.
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