Sports Business: BCCI posts record revenue of Rs 9,741.7 crore in FY 2023-24; IPL contributed Rs 5,761 crore | Cricket News
The Board of Control for Cricket in India (BCCI) has reported record revenue of Rs 9,741.7 crore for the Financial Year 2023-24, with the Indian Premier League (IPL) emerging as the primary contributor at 59 percent of total earnings. The IPL generated Rs 5,761 crore, while the Board earned an additional Rs 361 crore from non-IPL media rights, according to a report by Rediffusion.The IPL’s success has established itself as a crucial revenue stream for the BCCI since its inception in 2007, providing opportunities for players from various levels of cricket, including the Ranji Trophy.“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-level get a playing field. IPL will continue to churn out profitability as it growth further,” said Lloyd Mathias, business strategist and independent director, to The Hindu Business Line.
The Board’s revenue streams have diversified to include the Women’s Premier League (WPL) and global rights, creating a substantial financial foundation built on fan engagement and strategic partnerships.“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 Rs 30,000 crore in reserves, which brings in about Rs 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.The BCCI’s financial model has proven successful, with the International Cricket Council (ICC) relying significantly on BCCI’s funding contributions.
“ICC depends on BCCI for the bulk of its funding. ICC is not driving revenue as it should,” said Ajimon Francis, Managing Director at Brand Finance India.Despite a brief interruption during Operation Sindoor this year, the IPL’s performance remained stable, demonstrating the league’s resilience.The BCCI’s influence extends beyond domestic cricket, with international cricket boards showing interest in collaboration. The Lancashire County Cricket Club’s CEO reportedly suggested that the England and Wales Cricket Board (ECB) should offer BCCI a minority stake in the Hundred tournament to attract Indian men’s players.
