The Board of Control for Cricket in India (BCCI) reported significant financial growth from the Indian Premier League (IPL) in 2023. According to BCCI’s annual report for 2022-23, IPL 2023 generated a total revenue of ₹11,769 crore, reflecting a 78% increase year-on-year.
The board recorded a surplus of ₹5,120 crore, marking a substantial 116% rise compared to the previous year. This surge in earnings was primarily driven by new media rights and sponsorship agreements.
According to the Economic Times, the media rights for the 2023-27 cycle, which began with IPL 2023, significantly contributed to BCCI’s revenue growth. The rights were sold for an impressive ₹48,390 crore, with Disney Star acquiring the television rights for ₹23,575 crore and Viacom18’s JioCinema securing the digital rights for ₹23,758 crore.
As a result, BCCI’s media rights revenue for IPL 2023 surged to ₹8,744 crore, up from ₹3,780 crore in the previous season. However, BCCI’s expenditure also increased by 66% to ₹6,648 crore. Despite the rise in costs, the overall financial performance indicates sustained growth and profitability of the IPL under the new media and sponsorship agreements.
The BCCI reported a surplus of ₹377 crore from the inaugural season of the Women’s Premier League (WPL) in 2023. This surplus was achieved through media rights, franchise fees, and sponsorships, totaling ₹636 crore, while the expenditure for the WPL amounted to ₹259 crore.
Furthermore, Minister of State for Finance Pankaj Chaudhary informed the Rajya Sabha that the BCCI contributed ₹2,038 crore in Goods and Services Tax (GST) during the financial years 2023 and 2024.
Name of Author: Cricexec Staff
