The Board of Control for Cricket in India (BCCI) has hit a big jackpot. As per reports, the cash-rich Indian cricket board has earned a surplus of Rs 5120 crores from the Indian Premier League (IPL) 2023, a significant increase of 116% from IPL 2022 when BCCI earned Rs 2367 crores. The report also highlighted that BCCI earned around Rs 11,769 crores from IPL 2023, which was a 78% jump from last season. It’s also worth mentioning that BCCI’s expense also increased 66%, to Rs 6648 crores.
Reason behind huge growth in BCCI’s income
The big reason behind the significant growth in BCCI’s income from IPL 2022 is the new media rights and sponsorship deals which kicked in from IPL 2023 and will last till IPL 2027.
BCCI held the auction for the new media rights in 2021. Disney Star won the TV rights for a whopping 23,575 crores, while JioCinema, which is owned by Viacom-18, pocketed the digital rights for 23,758 crores.
In addition, BCCI also pocketed INR 2500 crores after selling the IPL title rights to Tata Sons for a period of five years.
Another huge source of BCCI’s income is the fees from the franchises. As per reports, BCCI earned around 2117 crores as franchise fees, which was a 22% increase from previous financial year.
BCCI paid huge GST
BCCI also brought in a surplus of Rs 377 crores from the Women’s Premier League. BCCI’s overall income from WPL was around 636 crores courtesy of media rights, sponsorship deals and franchise fees.
As per reports, Minister of state for finance Pankaj Chaudhary revealed in the Rajya Sabha that BCCI paid GST of INR 2,038 crore during FY23 and FY24.
“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, managing director of Brand Finance India.