IPL generated 59% of BCCI's ₹9,741 crore revenue in 2023-24
What's the story
The Board of Control for Cricket in India (BCCI) has reported a staggering ₹9,741.7 crore in revenue for the financial year 2023-24. Out of this massive amount, the Indian Premier League (IPL) alone contributed a whopping 59%. This translates to an impressive ₹5,761 crore generated by the cash-rich T20 tournament. The figures were first reported by The Hindu Business Line, which quoted Rediffusion.
Revenue source
'IPL is a golden goose for BCCI'
The IPL, which has been running since 2007, is a franchise-based T20 tournament that attracts top cricketing talent from India and abroad. Business strategist Lloyd Mathias called it a "golden goose" for the BCCI. He said, "The tournament is the best and media rights are constantly going up." Mathias also noted that IPL provides opportunities for players at the Ranji Trophy level to showcase their skills.
Revenue diversification
BCCI earned ₹361 crore from non-IPL media rights
BCCI also earned ₹361 crore from selling non-IPL media rights, including broadcasting rights for international tournaments. Sandeep Goyal, Chief of Rediffusion, believes that the board has yet to tap into its full revenue-generating potential. He suggested commercializing domestic competitions like Ranji Trophy to boost non-IPL revenues. Goyal said "BCCI has immense potential to commercialize traditional formats like Ranji Trophy."
Financial outlook
Goyal says BCCI has nearly ₹30,000 crore in reserves
Goyal also highlighted that BCCI has nearly ₹30,000 crore in reserves, earning about ₹1,000 crore a year in interest alone. He predicted these revenues would not only be sustainable but also grow by 10-12% per year due to increasing sponsorships, media rights deals, and matchday revenues. The International Cricket Council (ICC) is said to rely on BCCI for funding as it struggles to generate revenue "as it should."