The BCCI has registered a mind-boggling Rs 5,120 crore surplus from the IPL 2023, which is an increase of 116% when compared to the previous financial year. The board’s total income rose to Rs 11,769 crore, primarily because of the new media rights with media rights income of Rs 8,744 crore.
But the BCCI’s success is not limited to the IPL alone, financially. The first season of the WPL also helped the board earn a surplus of Rs. 377 crore for the board.
New Media Rights Sales Drive New Revenues
The following new revenue sources can therefore be attributed to BCCI: The new media rights for the 2023-27 cycle. The media rights for the Indian Premier League were awarded in 2021 for a period of five years. In addition, Viacom18 owned Jio Cinema has got the digital rights for Rs 23,758 crore. The BCCI also sold the IPL title sponsorship rights to Tata corporation for a period of five years at Rs 2,500 crore and also got Rs 1,485 crore from associate sponsorships.
Franchise Fees and Sponsorship Revenue
Franchise fees increased by 22% to Rs 2,117 crore from Rs 1,730 crore; sponsorship revenue was Rs 847 crore, as against Rs 828 crore.
The BCCI is a society registered under the Tamil Nadu Societies Registration Act, 1975 and is the richest and most influential cricket board in the world. The BCCI changed its old auditor, Deloitte Haskins & Sells with DTS & Associates during the financial year. 2017-18. The BCCI is in a very comfortable zone in world cricket. Having earned so much financially, the BCCI should extend the game across the world by supporting leagues or grassroots cricket, said Ajimon Francis, the managing director of Brand Finance India.
The BCCI had Rs 16,493.2 crore in the form of savings and current accounts and FDs in various banks as on 31 March, FY23 as against Rs 10,991. 29 crore as on 31 March, FY22. From the central pool, it disbursed Rs 4,670 crore to IPL franchises during the 2023 season, up from Rs 2,205 crore in the prior season.
Overall Financial Performance
In the same line, the board’s surplus during FY23 was up by 38% to Rs 3,727 crore. Income was up by 50 percent to Rs 6,558 crore and expenditure was up by 70 percent to Rs 2,831 crore. The cricket board received a surplus of Rs 377 crore from the Women’s Premier League (WPL), which began in 2023. It got Rs 636 crore from WPL through media rights, franchise fees and sponsorship while the expenditure was Rs 259 crore.
The minister of state for finance Pankaj Chaudhary had said in the Rajya Sabha that the BCCI has deposited GST of Rs 2,038 crore for FY 23 and FY 24.
The BCCI’s financial success in IPL 2023 and the introduction of the Women’s Premier League have made it the most powerful cricket board on the planet. New media rights, and better franchise fees, and sponsorships make the board capable of further expansion and support to the growth of cricket across the world.
