The Board of Control for Cricket in India (BCCI) reportedly saw a jump of approximately 116% in terms of its revenue in just one season. As per reports, BCCI’s revenue increased from ₹2,367 Crore to ₹5,120 Crore from IPL 2022 to IPL 2023. The huge surge in the revenue came from the new media rights and sponsorship deals, as revealed by BCCI’s annual report. As per the report, after the IPL 2022 season, the BCCI earned a total of ₹2,367 Crore but the cricketing body made huge profits a year later, all thanks to the stunning deals and sponsorships.
According to the Economic Times, total income from the IPL 2023 season saw a surge of 78%, approximately INR 11,769 Crore. The expenditure by the governing body also rose to around 66%, as it spent almost INR 6,648 Crore. However, owing to the new media rights and sponsorship deals in the 2023-2027 cycle, the Indian cricketing governing body was able to make a record profit.
The media rights deal is said to be valued at approximately INR 48,390 Crore. Speaking of the media rights, Disney Star stole the deal of INR 23, 575 Crore while JioCinema spent 23,758 Crore to win the deal in 2021. The title sponsorship rights of IPL were bought by Tata Sons for INR 2,500 Crore for a period of five years. Apart from it, brands like RuPay, AngelOne, MyCircle11 joined the league as associate sponsors for a deal worth INR 1,485 Crore.
In 2022, the rights that were valued at INR 3,780 Crore saw a price surge of 131% in 2023 as the figure rose to INR 8,744 Crore. In addition, BCCI earned INR 2,117 Crore in franchise fees in 2023 as compared to INR 1,7380 Crore in 2022. The overall sponsorship revenue was increased by 2% from INR 828 Crore to INR 847 Crore.