Mumbai Indians make INR 109 crore profit in FY24

Mumbai Indians made a profit of INR 109 crore in FY24. Owned by Indiawin Sports Private Limited, it doubled its revenue compared to the previous financial year, earning INR 737 crore in FY24.

In the FY23, the franchise earned INR 358.79 crore in terms of revenue, registering a loss of INR 49.5 crore. Out of which, INR 227 crore came via BCCI’s central media rights. Notably, the governing body has signed a massive deal with Disney Star for television rights while signing another big-money deal with Viacom18 for digital rights. A large portion of these deals go directly to all the franchises, which helped Mumbai earn a significant amount in that period.

Even though the franchise made a profit in India, it is struggling internationally. They own MI Cape Town in South Africa, MI Emirates in ILT20 and MI New York in MLC and none of the teams have made a profit in FY24. The New York franchise reported a gross revenue of INR 38.6 crore and had a net loss of INR 21.97 crore while the Emirates team had a gross revenue of INR 32.6 crore and a net loss of about INR 45.3, reported Livemint.

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When it comes to the IPL, MI was the most valuable franchise in the league. The Mukesh Ambani-led Reliance Group spent as much as $111.9 million on it to secure the rights and as per a recent valuation by American investment bank Houlihan Lokey, their business reached $16.4 billion (approximately INR 1.35 trillion) this season, showing a 6.5% increase from 2023.

Notably, IPL’s valuation rose by 6.3% in 2024 over the previous year to reach $3.4 billion. It was valued at $1.8 billion in 2022 and $3.2 billion in 2023. Mumbai, meanwhile, is valued at $204 million in 2024. The presence of Rohit Sharma, Hardik Pandya, Suryakumar Yadav and Jasprit Bumrah played a major role in it but the captaincy controversy did play a part, else the number could have been higher.