logo
BCCI earns record revenue of ₹9,741.7 crore in FY24, IPL proves main cash cow

BCCI earns record revenue of ₹9,741.7 crore in FY24, IPL proves main cash cow

The Hindu3 days ago
The annual cricket extravaganza the Indian Premier League (IPL) has proved to be a golden-egg-laying goose for the Board of Control for Cricket in India (BCCI), contributing over 59 per cent of its revenue in FY24, according to a report by Rediffusion.
Experts say the Board can take it further still by branching outside India.
'BCCI in 2007 discovered a golden goose – the IPL which is now a 100 per cent part of the BCCI. The tournament is the best and media rights are constantly going up. IPL also ensures that players from Ranji Trophy-levelget a playing field. IPL will continue to churn out profitability as it growth further,' said Lloyd Mathias, business strategist and independent director, pointing out that the Indian cricket event gets a big viewership as the India diaspora is huge.
ALSO READ | How much money does BCCI make from one IPL? — The numbers behind IPL 2025
BCCI could popularise cricket in more countries which would help increase revenue, he added.
According to branding and ad giant Rediffusion, the BCCI generated ₹9,741.7 crore revenue in FY23–24, and along with IPL, which generated revenue of ₹5,761 crore, and growing streams like WPL and global rights, 'BCCI has built a billion-rupee engine powered by fan love, smart deals, and cricketing excellence.'
The Board also earned ₹361 crore from non-IPL media rights, as per the numbers. This income comes from broadcasting rights for international cricket matches and tournaments, contributing significantly to BCCI's diverse revenue streams.
'BCCI has immense potential to commercialise traditional formats like Ranji Trophy, Duleep Trophy, or CK Nayudu Trophy to shore up non-IPL revenues. Moreover, the board has close to ₹30,000 crore in reserves, which brings in about ₹1,000 crore a year in interest alone. These revenues aren't just sustainable—they are poised to grow 10–12 per cent annually, thanks to expanding sponsorships, media deals, and matchday earnings.,' said Sandeep Goyal, Chief of Rediffusion.
Ajimon Francis, Managing Director at Brand Finance India, said that the revenue performance by IPL shows that BCCI has created a good business model.
ALSO READ | IPL's addiction to surrogate ads is undermining its family image
'ICC depends on BCCI for the bulk of its funding. ICC is not driving revenue as it should,' he said.
On the flipside, an interruption in IPL revenues can also mean a big hit for BCCI. This year, the league was interrupted due to Operation Sindoor, when some events were briefly halted. However, Francis argued that the IPL performance remained 'hunky-dory' despite the temporary halt. He also pointed out that other leagues of BCCI like WPL also drive sponsors, from whom there is significant demand.
'The point is, so what if IPL makes for the bulk of BCCI's revenue? It's just a portfolio of revenues, some do better, some do not,' said Francis.
When asked what BCCI can do to boost, non-IPL revenues, Francis suggested the body take equity share in other leagues at a governing level to scale up. Whereas, Mathias suggested that BCCI increase its sponsors, popularise cricket more in other countries to increase its revenue.
Earlier in April, Lancashire County Cricket Club's Chief Executive Officer (CEO) also reportedly said that the England and Wales Cricket Board (ECB) should offer the BCCI a minority stake in the Hundred to attract Indian men's players to the tournament.
This story by Aroosa Ahmed, Vallari Sanzgiri and Anupama Ghosh was originally published in The Hindu Businessline.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Inking of India-UK trade pact, ties with Maldives focus of PM Modi's visit this week
Inking of India-UK trade pact, ties with Maldives focus of PM Modi's visit this week

Indian Express

time11 minutes ago

  • Indian Express

Inking of India-UK trade pact, ties with Maldives focus of PM Modi's visit this week

Prime Minister Narendra Modi will travel to the United Kingdom and the Maldives from July 23 to 26, the government said on Sunday. While India and the UK are likely to formally sign the Free Trade Agreement (FTA) during the visit, Modi will be the guest of honour at the Maldives' Independence Day celebrations. This will be Modi's first trip to the two countries after the change in leadership there. 'At the invitation of the Prime Minister of the United Kingdom Keir Starmer, Prime Minister Narendra Modi will pay an official visit to the United Kingdom from July 23-24, 2025,' the Ministry of External Affairs (MEA) said in a statement. 'During the visit, Prime Minister Modi will hold wide ranging discussions with Prime Minister Starmer on the entire gamut of India-UK bilateral relations. They will also exchange views on issues of regional and global importance. Prime Minister is also expected to call on His Majesty King Charles III. During the visit, the two sides will also review the progress of the Comprehensive Strategic Partnership (CSP) with a specific focus on trade and economy, technology and innovation, defence and security, climate, health, education and people-to-people ties,' it said. This will be Modi's fourth visit to the UK, but the first since Starmer came to power after he led the Labour landslide to end 14 years of Conservative rule in July last year. Since then, the two leaders have met a couple of times on the sidelines of multilateral meetings — at the G20 Summit in Rio de Janeiro, Brazil, in November last year, and the G7 leaders' summit in Kananaskis in Canada in June this year. While the India-UK Free Trade Agreement was finalised in May this year, the pact is expected to be signed during Modi's visit. The FTA, finalised after three years of negotiations, is expected to benefit 99 per cent Indian exports from tariff and will make it easier for British firms to export whiskey, cars and other products to India besides boosting the overall trade basket. In the second leg of his visit, Modi will go to Maldives for the first time since President Mohamed Muizzu came to power in November 2023. 'Prime Minister Modi will be the 'Guest of Honour' at the celebrations of the 60th anniversary of the Independence of Maldives on July 26,' the MEA said. This will mark a turnaround in the relationship which started on a confrontational note. Earlier, Muizzu had asked India to withdraw Indian military personnel associated with the aviation platforms — two choppers and an aircraft — and they had to be replaced by technical personnel. Muizzu visited India in October last year, and the two sides moved forward to mend ties. Modi's visit will be aimed at taking this forward. 'In the second leg of his visit, PM will undertake a State Visit to Maldives from July 25-26, 2025 on the invitation of the President of the Republic of Maldives, Mohamed Muizzu. This will be Prime Minister's third visit to Maldives, and the first visit by a Head of State or Government to Maldives during the Presidency of Mohamed Muizzu,' the MEA said. 'Prime Minister Modi will meet Mohamed Muizzu and hold discussions on issues of mutual interest. The two leaders will also take stock of the progress in the implementation of the India-Maldives Joint Vision for a 'Comprehensive Economic and Maritime Security Partnership', adopted during the State Visit of the President of Maldives to India in October 2024,' it said. It said the visit reflects the importance India attaches to its maritime neighbour, Maldives, which continues to hold a special place in India's 'Neighbourhood First' policy and Vision MAHASAGAR. It will provide an opportunity for both sides to further deepen and strengthen the close bilateral relationship, it said. Shubhajit Roy, Diplomatic Editor at The Indian Express, has been a journalist for more than 25 years now. Roy joined The Indian Express in October 2003 and has been reporting on foreign affairs for more than 17 years now. Based in Delhi, he has also led the National government and political bureau at The Indian Express in Delhi — a team of reporters who cover the national government and politics for the newspaper. He has got the Ramnath Goenka Journalism award for Excellence in Journalism '2016. He got this award for his coverage of the Holey Bakery attack in Dhaka and its aftermath. He also got the IIMCAA Award for the Journalist of the Year, 2022, (Jury's special mention) for his coverage of the fall of Kabul in August 2021 — he was one of the few Indian journalists in Kabul and the only mainstream newspaper to have covered the Taliban's capture of power in mid-August, 2021. ... Read More

Trade SOP in limbo, India takes novel approach in ‘dynamic' talks with US
Trade SOP in limbo, India takes novel approach in ‘dynamic' talks with US

Indian Express

time41 minutes ago

  • Indian Express

Trade SOP in limbo, India takes novel approach in ‘dynamic' talks with US

As uncertainty over the India-US interim trade deal continues following the conclusion of an extended round of negotiations, the Ministry of Commerce and Industry has adopted a fresh approach — operating outside the purview of the standard operating procedure (SOP) which has been under preparation since last year —to respond to challenging US demands, The Indian Express has learnt. The Ministry had begun preparations in May last year to compile a 60-page SOP to address the lack of consistent and streamlined procedures for negotiating future trade agreements. This was aimed at guiding the process of launching, conducting, and concluding trade negotiations, and addressed issues such as human resource mobilisation, negotiation team formation, and the composition and hierarchy of negotiating teams. 'The SOP for trade negotiations, which was supposed to be finalised by the top brass of the government, could not be completed due to internal disagreements. As far as the US deal is concerned, negotiations had to be conducted outside the scope of the SOP to tackle the dynamic nature of US trade negotiations,' a government official said on condition of anonymity. US President Donald Trump had initially set a July 9 deadline for countries to sign a trade deal and avoid steep reciprocal tariffs, later revising the deadline to August 1. Trump also announced fresh tariffs on dozens of countries, including Canada, the EU, Brazil, and several ASEAN nations. However, he stated that a deal with India is close. While extensive consultations with industry — ranging from textiles to automobiles — have been taking place, several farmer bodies and state ministers have begun raising concerns over the lack of consultation during the ongoing negotiations for the US deal, which could involve opening up India's agricultural market. Kerala's Minister for Agriculture, P Prasad, said earlier this month that the livelihoods of lakhs of Kerala's rubber, coconut, dairy, and poultry farmers could be at risk if the Centre fails to protect Indian farmers' interests in the negotiations. Prasad said that Kerala had not been consulted on the deal and added that the India-ASEAN trade agreement had previously had a negative impact on the state. The Indian Coordination Committee of Farmers Movements (ICCFM), representing farmers from 11 states, said agriculture should be excluded from the trade deal. It highlighted that the US is one of the world's largest exporters of synthetic rubber. 'The US is one of the biggest exporters of synthetic rubber. Synthetic rubber imports have seriously impacted the farm-gate price of natural rubber in India. India imported Rs 1,556.54 crore worth of synthetic rubber and related products from the US in 2017–18, and Rs 71,490.73 crore in 2018–19. If India reduces import duties on synthetic rubber from the US, it will severely affect rubber farmers,' the ICCFM said. Farmers also warned that if India signs a trade deal with the US, the latter could import raw sugar from Brazil, process it in the US, and then export it to India—hurting the domestic sugar industry. Ravi Dutta Mishra is a Principal Correspondent with The Indian Express, covering policy issues related to trade, commerce, and banking. He has over five years of experience and has previously worked with Mint, CNBC-TV18, and other news outlets. ... Read More

PM Modi in UK this week, FTA & boosting ties top on agenda
PM Modi in UK this week, FTA & boosting ties top on agenda

Time of India

timean hour ago

  • Time of India

PM Modi in UK this week, FTA & boosting ties top on agenda

File photo NEW DELHI: PM Narendra Modi and his counterpart Keir Starmer will review progress under India-UK Comprehensive Strategic Partnership (CSP) with specific focus on trade and economy, technology, defence, security, education, and people to people exchanges in a bilateral meeting on July 24, said govt in an official announcement of the PM's UK visit this week. Modi will also call on King Charles III during the visit that is expected to see formalisation of their free trade agreement (FTA). Govt also announced Modi's visit to Maldives where he will be the guest of honour on the July 26 Independence Day. This will be Modi's first visit to the country since President Mohamed Muizzu assumed office in Nov 2023, signalling a complete turnaround in ties since the controversial expulsion of Indian military personnel from archipelago, and also the first by any Indian PM on Maldives independence anniversary. Anti-India leader and former President Abdulla Yameen had in 2017 invited then Pakistan PM Nawaz Sharif for the same event. TOI had first reported on June 2 that India and Maldives were discussing a visit to Male by Modi on their Independence Day. During Modi's visit to UK, both sides are expected to formally sign the landmark FTAIndia and UK finalised in May. This will be Modi's fourth visit to UK. The leaders have endorsed FTA covering trade in goods and services, as a balanced, equitable and ambitious deal that would enhance bilateral trade and generate new avenues for employment. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like No annual fees for life UnionBank Credit Card Apply Now Undo 'During the visit, Modi will hold wide ranging discussions with Starmer on the entire gamut of India-UK bilateral relations. They will also exchange views on issues of regional and global importance,' MEA said. In case of Maldives, it will also be the first visit by a head of state or govt to the country during Muizzu's presidency. According to Male, the visit carries 'profound significance' as it coincides with the Independence Day and will see inauguration of several joint projects, along with signing of agreements in a range of sectors. 'PM will be the guest of honour at the 60th anniversary celebrations of Independence of Maldives. The two leaders will take stock of the progress in implementation of India-Maldives Joint Vision for a 'Comprehensive Economic and Maritime Security Partnership', adopted during State Visit of the President of Maldives to India in Oct 2024,' said govt in its announcement. 'The visit reflects the importance India attaches to its maritime neighbour, Maldives, which continues to hold a special place in India's 'Neighbourhood First' policy and Vision Mahasagar. The visit will provide an opportunity for both sides to further deepen and strengthen the close bilateral relationship,' it added.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store