BCCI Earns Over Rs 5000 Crore Extra from IPL 2023
With the Indian Premier League (IPL) 2023, the Board of Control for Cricket in India (BCCI) made an excess of Rs 5,120 crore, an increase of 116% over the Rs 2,367 crore it made from the IPL 2022.
According to BCCI's annual report for 2022–23, total revenue from the IPL 2023 soared 78% year over year to Rs 11,769 crore, while expenses increased 66% to Rs 6,648 crore.
Sponsorship agreements and additional media rights were the main drivers of the expansion. With the start of the IPL 2023 season, a new media rights agreement valued at Rs 48,390 crore for the 2023–27 cycle was made.
Disney Star won the 2023–2027 IPL TV rights in 2021 with an offer of Rs 23,575 crore, while JioCinema, a division of Viacom18, won the digital rights with a bid of Rs 23,758 crore.
Additionally, Tata Sons purchased the IPL championship rights from the BCCI for Rs 2,500 crore over five years. By selling associate sponsorships to MyCircle11, RuPay, AngelOne, and Ceat, it made an additional Rs 1,485 crore.
According to the annual report, the board's revenue from media rights increased by 131% to Rs 8,744 crore from IPL 2023 compared to Rs 3,780 crore from IPL 2022.
Franchise fee income increased by 22% to Rs 2,117 crore from Rs 1,730 crore. Up 2% from Rs 828 crore, sponsorship revenue came to Rs 847 crore.
Disney Star had all of the IPL's media rights from 2018 to 2022. The business had purchased the five-year rights for Rs 16,347 crore.
The world's richest and most influential cricket body, the BCCI was established in 1975 under the Tamil Nadu Societies Registration Act.
During FY23, the board chose DTS & Associates, a local firm, to replace its previous auditor, Deloitte Haskins & Sells.
In the history of cricket, the BCCI has an excellent place. Ajimon Francis, general director of brand valuation and marketing firm Brand Finance India, said, 'BCCI should take the lead in spreading the game globally by supporting leagues or grassroots cricket, especially after achieving so much financial success.'
At the end of FY23, the BCCI's bank balance in different savings and current accounts and FDs was Rs 16,493.2 crore, up from ₹10,991.29 crore the previous year.
In contrast to the Rs 2,205 crore it gave to IPL teams from the central pool the previous season, it paid Rs 4,670 crore to them in 2023.
In all, the board's excess for FY23 rose by 38% to Rs 3,727 crore. Revenue surged by 50% to Rs 6,558 crore, while expenses surged by 70% to Rs 2,831 crore.
From the Women's Premier League (WPL), which debuted in 2023, the cricket board received an excess of Rs 377 crore. Through television rights, franchise fees, and sponsorships, it brought in Rs 636 crore from the WPL. An expense of Rs 259 crore was incurred.
The Rajya Sabha was informed by Minister of State for Finance Pankaj Chaudhary that BCCI has paid Rs 2,038 crore in GST in FY23 and FY24.
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