The Indian Cricket Control Board (BCCI) has earned a record-breaking earnings in FY 2023-24 and its total revenue is Rs. 9742 crore. According to a company report, the largest part of this income came from the Indian Premier League (IPL). IPL alone is Rs. 5,761 crore contributed. That is, 59% of the board's total earnings came from the IPL.
BCCI earned Rs 361 crore from non-IPL media rights. IPL has now become the largest source of income for the BCCI and is also offering big opportunities to domestic cricket players, including the Ranji Trophy.
This year, the RCB won the IPL title by beating PBKS by 6 runs.
BCCI has Rs 30,000 crore in the reserve Sandeep Goyal, Managing Director of Radifuse, said BCCI has a huge potential for commercialization of domestic tournaments such as Ranji Trophy, Duleep Trophy and CK Naidu Trophy, which could increase revenue other than IPL. The board has about Rs 30,000 crore in the reserve, which offers an interest of about Rs 1,000 crore per year.
BCCI from IPL earns this way
- Media Rights: Media and broadcast rights means the right to telecast of IPL matches. In addition to the live telecast of the match, only a company with media rights can show highlights. The BCCI yields maximum income from this.
- Title Sponsorship: In 2008, ₹ 50 crore was offered annually for the title sponsorship. In 2023, the figure increased to more than ₹ 300 crore annually. There was a two -year contract between Tata and BCCI, for which a total of ₹ 600 crore was given.
- Franchise Fee: When any new team is part of the IPL, it has to pay a franchise fee. The whole process is done by bidding, in which various companies or groups are part of the bidding process for buying a team. In 2022, when Gujarat Titans and Lucknow Supergiants became part of the League, ₹ 12500 crore was added to the BCCI account.
Royal Challengers Bangalore won the IPL Trophy for the first time This season, Royal Challengers Bengaluru (RCB) won the IPL title. The team became the first IPL champion. RCB beat Punjab Kings (PBKs) by 6 runs in the final. With this, IPL got the eighth champion in the 18th season. On June 3, PBKS, chasing the target of 191 runs at Narendra Modi Stadium in Ahmedabad, could only score 184 runs.
The RCB team has become the eighth champion in the history of IPL. Earlier, Chennai Super Kings (5 times), Mumbai Indians (5 times), Kolkata Knight Riders (3 times), Rajasthan Royals (1 time), Deccan Chargers (1 time), Sunrisers Hyderabad (1 time) and Gujarat Giants (1 time).
Image Credit: Images/graphics belong to (Divya-Bhaskar).