BCCI's surplus from IPL 2023 soars to over ₹5,000 crore
The Board of Control for Cricket in India (BCCI) has reported a significant financial upturn from the 2023 Indian Premier League (IPL) season. As per the Economic Times, the Indian cricket board's surplus rose to ₹5,120 crore, marking an impressive 116% increase from the previous year's earnings of ₹2,367 crore. This surge was primarily driven by new media rights and sponsorship deals. Here are further details.
BCCI's total income and expenditure for IPL 2023
The BCCI's total income from IPL 2023 witnessed a substantial year-on-year increase of 78%, reaching ₹11,769 crore. Concurrently, the expenditure also saw a significant rise of 66% to ₹6,648 crore. These figures were disclosed in the BCCI's annual report for the fiscal year 2022-23. The new media rights deal, which was worth ₹48,390 crore for the 2023-2027 cycle, was a key contributor to this financial growth.
Media rights deals boost BCCI's income
In 2021, Disney Star secured IPL's TV rights for the 2023-2027 cycle with a bid of ₹23,575 crore. Simultaneously, JioCinema, owned by Viacom18, acquired digital rights for the same with a bid of ₹23,758 crore. These deals significantly multiplied the BCCI's media rights income for IPL 2023 by 131% to ₹8,744 crore. The same income in IPL 2022 amounted to ₹3,780 crore.
Eearnings from franchise fees and sponsorships
The BCCI's earnings from franchise fees for IPL 2023 also saw a considerable rise of 22% to ₹2,117 crore from the previous year's ₹1,730 crore. Sponsorship revenue experienced a modest increase of 2%, reaching ₹847 crore. These figures further underscore the financial success of IPL 2023.
Financial position and future prospects
It is worth noting that the BCCI is the world's wealthiest and most influential cricket body. It had a bank balance of ₹16,493.2 crore across savings and current accounts as well as fixed deposits (FDs) by the end of 2023 (Financial Year). This figure marks an increase from the previous year's bank balance of ₹10,991.29 crore.
Disbursement to IPL franchises and surplus
As per the Economic Times, the BCCI disbursed ₹4,670 crore to IPL franchises during the 2023 season. This figure is more than twice the amount of ₹2,205 crore paid out in the previous season. Despite these payouts, the board's overall surplus during FY23 rose by 38% to ₹3,727 crore.
Earnings from Women's Premier League debut
The BCCI also reported a surplus of ₹377 crore from the inaugural Women's Premier League (WPL) in 2023. The board earned ₹636 crore via media rights, franchise fees, and sponsorships by conducting the flagship T20 tournament for women. However, it also incurred an expenditure of ₹259 crore. These figures highlight the financial potential of women's cricket in India.
