The Indian Premier League (IPL) 2023 generated a surplus of Rs 5120 crore for the Board of Control for Cricket in India (BCCI). According to a report, it was a 116% increase over the Rs 2367 crore surplus made by the BCCI from IPL 2022.
The BCCI annual report for the year 2022-23 has revealed stunning details of the profit the top cricketing body made during that year. In IPL 2022, the BCCI media rights were valued at INR 3,780 crore, however, the annual report revealed that the figure rose to INR 8,744 crore, a price surge of 131% in the IPL 2023 season.
According to the Economic Times, BCCI’s total income from IPL 2023 was Rs 11,769 crore, up 78% year on year. The expenditure also jumped by 66% to Rs 6648 crore, according to the BCCI’s 2022-23 annual report.
The study attributed the growth to new media rights and sponsorship arrangements. The new media rights contract is valued at Rs 48,390 crore for the 2023-27 season. It began with the IPL 2023.
BCCI media rights valued at INR 48,390 crore
According to the Economic Times, the BCCI’s annual report for 2022-23 disclosed astonishing facts about the top cricketing body’s profit that year.
The total revenue from the IPL 2023 season increased by 78% to INR 11,769 crores, while the BCCI’s spending increased by 66% to INR 6,648 crore. Despite this, BCCI achieved a record profit thanks to new TV rights and sponsorship arrangements for the 2023-2027 cycle. The media rights transaction was priced at over INR 48,390 crore.
Disney Star acquired the television rights for IPL at a hefty price of INR 23,575 crore, while Viacom18-owned JioCinema spent INR 23,758 crore on the league’s lucrative digital rights in 2021. Tata Sons purchased the IPL’s title sponsorship rights at a record amount of INR 2,500 crore for five years.
Before the IPL 2023 media rights contract, Disney Star was the only holder of the IPL media rights, having paid a whopping INR 16, 347 crores to buy the league’s rights for five years spanning 2018–2022.
Aside from Tata, many other well-known firms, like MyCircle11, RuPay, AngelOne, and Ceat, joined the bandwagon as associate sponsors, raising an additional INR 1,485 crore.
In 2023, the BCCI collected INR 2,117 crores in franchise fees, up from INR 1,730 crores the year before. Sponsorship revenue climbed by 2%, from INR 828 crore to INR 847 crore.
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