BCCI set to earn 95% of surplus from IPL alone
Ten years after it began in 2008, the Indian Premier League has grown in stature from being a domestic sideshow to the world's most successful cricket league. For BCCI, it is a multi-million dollar cash-cow. In the coming year, IPL will add a surplus of Rs. 2,017 crore to the books of BCCI. This number tells how popular is IPL amongst fans. Here's more.
Brand value of IPL
As of August 2017, the IPL's brand value, in its tenth year, is worth over $5.3 billion or Rs. 34,000 crore, a 26% increase from the previous year ($4.2 billion).
BCCI earns more from IPL than international and domestic fixtures
The estimate of Rs. 2,017 crore from IPL is almost about 95% of BCCI's surplus. BCCI only manages to earn only Rs. 125 crore surplus from rest of the operations including international and domestic fixtures. In other words, the board makes 16 times more profit from the 45-day IPL window than it does from the rest of 320 days of the year.
Media rights deal the main reason for jump in surplus
While IPL will contribute ~60% of surplus in the current fiscal (Rs. 665 crore), the sudden spike in projections, for the coming financial year, is mainly due to new IPL media rights deal. Star India spent Rs. 16,347 crore to bag the rights for a five-year period. BCCI, on the other hand, will see a drop in surplus from Indian men's team's international fixtures.
BCCI CEO on IPL's significance
BCCI's CEO Rahul Johri said that there would be minimal international cricket during the IPL in the Future Tours Program in 2019. He added that "the other boards understand the opportunity IPL presents and want all their players to be available."
