Sports Business: BCCI recorded a revenue of Rs 9,741.7 crore in FY 2023-24; IPL contributed Rs 5,761 crore. Cricket news
The Control Board for Cricket in India (BCCI) has reported a record revenue of Rs 9,741.7 crore for the financial year 2023-24, with the Indian Premier League (IPL) emerging as a primary contribution at 59 percent of the total income. The IPL generated Rs 5,761 crore, while the board earned an additional Rs 361 crore from non-IPL media rights, as per a report by the Rediffusion.The success of the IPL has established itself as an important revenue stream for the BCCI since its establishment in 2007, providing opportunities for players of various levels of cricket, including the Ranji Trophy.“In 2007, BCCI discovered a golden goose – IPL which now is 100 percent of BCCI. Tournaments are the best and media rights are constantly increasing. The IPL also ensures that the Ranji Trophy-level players get the playgrounds. Lloyd Mathias, a business strategist and independent director for the Hindu business line, said, “IPL continued to increase profitability further.
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The revenue streams of the board have diversity to include the Women’s Premier League (WPL) and global rights, which creates a sufficient financial foundation built on fan engagement and strategic partnership.“The BCCI has the immense potential to commercialize traditional formats such as Ranji Trophy, Dalip Trophy, or CK Naidu Trophy to sideline non-IPL revenue. In addition, the board has around Rs 1,000 crore in a reserve of around Rs 30,000 crore. The media deal, and the match-day earnings, said the prominent Sandeep Goyal.BCCI’s financial models have proved to be successful, there is considerable confidence in BCCI’s funding contribution with the International Cricket Council (ICC).
Ajimon Francis, managing director of Brand Finance India, said, “The ICC depends on the BCCI for the wholesale of its funding. ICC is not running revenue.”This year, despite a brief interruption during Operation Sindor, the IPL performance remained stable, demonstrating the league flexibility.The influence of BCCI is beyond domestic cricket, in which the International Cricket Board is interested in cooperation. The CEO of the Lancashire County Cricket Club allegedly suggested that the England and Wales Cricket Board (ECB) should offer a minority share to the BCCI in a hundred tournaments to attract Indian men’s players.
