The Indian Premier League has become a “golden goose" for the BCCI as the world’s richest cricket board’s coffers continue to swell thanks to the ever-growing popularity of what is widely considered to be the world’s best T20 league. According to a report, of the revenue that the Indian cricket board earned in Financial Year 2023-24, IPL alone contributed a whopping 59 per cent.
The IPL is an annual franchise-based T20 tournament that sees participation from the top cricketing talent from India and around the world. As many as 10 teams take part in the competition which came into existence in 2007.
As per the report, quoting Rediffusion, the BCCI generated Rs 9,741.7 crore revenue in FY23–24 of which IPL’s contribution stands at Rs 5,761 crore.
“BCCI in 2007 discovered a golden goose – the IPL which is now a 100 per cent part of the BCCI. The tournament is the best and media rights are constantly going up. IPL also ensures that players from Ranji Trophy-level get a playing field. IPL will continue to churn out profitability as it growth further," the publication quoted business strategist and independent director Lloyd Mathias as saying.
As per the report, Rs 361 crore came from selling non-IPL media rights including broadcasting rights for international tournaments.
As per Sandeep Goyal, the Chief of Rediffusion, the board hasn’t yet realised its full potential in terms of revenue generation as there’s “immense potential" to commercialise its domestic competitions including Ranji Trophy – India’s top-flight domestic red-ball tournament.
“BCCI has immense potential to commercialise traditional formats like Ranji Trophy, Duleep Trophy, or CK Nayudu Trophy to shore up non-IPL revenues," Goyal said.
“…the board has close to ₹30,000 crore in reserves, which brings in about ₹1,000 crore a year in interest alone. These revenues aren’t just sustainable – they are poised to grow 10–12 per cent annually, thanks to expanding sponsorships, media deals, and matchday earnings," Goyal added.
As per the report, the International Cricket Council (ICC), game’s global governing body, is dependent on BCCI for funding since it’s failing to drive revenue “as it should".
Source: News18
