BCCI earned additional INR 5,000 crore from IPL 2023

The Board of Control for Cricket in India (BCCI) has seen a financial boom with the Indian Premier League (IPL) 2023, recording an outstanding surplus of INR 5,120 crore. This impressive figure represents a 116% increase from the 2022 edition.

The IPL, since its inception in 2008, has turned into a global cricketing phenomenon and a lucrative business venture. The 2023 season saw a significant milestone with the commencement of new media rights and sponsorship deals, boosting the BCCI's earnings to new heights.

The BCCI's annual report for 2022-23 reveals that the total income from IPL 2023 skyrocketed by 78% year-on-year to INR 11,769 crore.

This growth can be attributed primarily to the new media rights deal worth INR 48,390 crore for the 2023-27 cycle. Disney Star secured the IPL TV rights with a bid of INR 23,575 crore, while Viacom18-owned JioCinema acquired the digital rights for INR 23,758 crore.

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The board's media rights income alone surged by 131% to INR 8,744 crore from IPL 2023, compared to INR 3,780 crore from the previous season. Additionally, the BCCI bolstered its coffers through strategic sponsorship deals, including an INR 2,500 crore title rights agreement with Tata Sons for five years.

Ajimon Francis, managing director of Brand Finance India, commented on the BCCI's financial success.

"The BCCI is in an enviable position in world cricket. Having achieved so much financially, BCCI should take the lead in spreading the game globally by supporting leagues or grassroots cricket," Francis said as quoted by Economic Times.

Apart from the IPL, the BCCI's overall surplus during FY23 increased by 38% to ₹3,727 crore. The board's bank balance increased to INR 16,493.2 crore by the end of FY23, up from INR 10,991.29 crore the previous year.

The inaugural Women's Premier League (WPL) in 2023 also contributed significantly, generating a surplus of INR 377 crore. The board earns INR 636 crore from WPL through media rights, franchise fees, and sponsorships.