IPL is a goldmine for the BCCI. The cricket board’s coffers are swelling because of the IPL’s popularity as a top T20 league. One report says the IPL made up 59% of the Indian cricket board’s revenue in 2023-24.
IPL is a yearly T20 tournament with teams comprising top cricketers from India and other countries. Ten teams compete in the tournament which started in 2007.
The Hindu Business Line reported that BCCI made around Rs 9,741.7 crore in 23-24, with IPL contributing Rs 5,761 crore.
According to business strategist Lloyd Mathias, IPL ensures that players from Ranji Trophy level get a chance to play and it will keep making money as it gets bigger.
The report says Rs 361 crore came from selling media rights to non-IPL events like international tournaments.
Sandeep Goyal, Chief of Rediffusion, said the board can make even more money by commercializing its domestic competitions like Ranji Trophy.
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Goyal added that BCCI has almost Rs.30,000 crore in reserves which brings in about Rs.1,000 crore a year in interest. These revenues are expected to grow by 10-12% every year through sponsorships, media deals and matchday earnings.
The report also says ICC is dependent on BCCI for money as it’s not making as much revenue as it should.
