BCCI’s IPL 2023 earnings jump 116% from the previous year to over Rs 5,000 crore

The Board of Control for Cricket in India (BCCI) reported a surplus of Rs 5,120 crore from the Indian Premier League (IPL) 2023, marking a significant 116% increase from the Rs 2,367 crore earned in IPL 2022. According to BCCI's annual report for 2022-23, the total income from IPL 2023 surged by 78% year-on-year to Rs 11,769 crore, while expenditures rose by 66% to Rs 6,648 crore, as reported by Economic Times.

This growth was driven by new media rights and sponsorship agreements. The new media rights deal, valued at Rs 48,390 crore for the 2023-27 cycle, came into effect with the IPL 2023 season. In 2021, Disney Star secured the IPL TV rights for the 2023-27 cycle with a bid of Rs 23,575 crore, while Viacom18-owned JioCinema acquired the digital rights with a bid of Rs 23,758 crore.

As mentioned in the report, BCCI also sold the IPL title rights to Tata Sons for Rs 2,500 crore for a five-year term and earned an additional Rs 1,485 crore by selling associate sponsorships to MyCircle11, RuPay, AngelOne, and Ceat.

According to the BCCI's annual report, media rights income from IPL 2023 surged 131% to Rsm8,744 crore, compared to Rs 3,780 crore from IPL 2022. Earnings from franchise fees increased by 22% to Rs 2,117 crore from Rs 1,730 crore, while sponsorship revenue grew 2% to Rs 847 crore from Rs 828 crore.

From IPL 2018 to 2022, Disney Star was the exclusive media rights holder, having paid Rs 16,347 crore for the five-year period.

At the end of FY23, the BCCI had a bank balance of Rs 16,493.2 crore across various savings accounts, current accounts, and fixed deposits, up from Rs 10,991.29 crore the previous year.

During the 2023 IPL season, the BCCI distributed Rs 4,670 crore to franchises from the central pool, a significant increase from the Rs 2,205 crore paid in the previous season. Overall, the board's surplus for FY23 rose by 38% to Rs 3,727 crore. Total income increased by 50% to Rs 6,558 crore, while expenditure grew by 70% to Rs 2,831 crore.

The BCCI also earned a surplus of Rs 377 crore from the inaugural Women's Premier League (WPL) in 2023. The league generated Rs 636 crore through media rights, franchise fees, and sponsorships, with expenses amounting to Rs 259 crore.

Minister of State for Finance Pankaj Chaudhary informed the Rajya Sabha that the BCCI paid Rs 2,038 crore in GST during FY23 and FY24.