One of the biggest money-minting sporting events in the world, the Indian Premier League is just around the corner. With its first match scheduled to be held on 26 March 2022, IPL 2022 is entering a new phase in its glorious 14 years. Many things have changed since its inception in 2008 where it paved the way for the T20 leagues across the world, this year it will host 10 teams in a completely new format of matches.
Acknowledging its evolution, one thing has not changed at all and that is its ability to bring in big bucks for BCCI. And even without the ticket revenue that has been the case for the past 2 years, they have been able to make huge sums. This article explains exactly how IPL makes money for BCCI, so here we go –
IPL Teams bid for the season 2022 saw two new teams and BCCI made a staggering Rs. 12,715 Cr. just with these two teams alone. Irelia Co Pte Ltd (CVC Capital) paid a hefty Rs. 5,625 Cr for Gujarat Titans, while Sanjiv Goenka’s RPSG acquired Lucknow Super Giants for a huge sum of Rs. 7,090 Cr.
One of the major income sources for IPL is the media rights which brings in a huge amount of money. The current media right lies with Star India which purchased the Indian Premier League rights on September 4, 2017, with the season beginning in 2018.
The Indian entertainment arm won the worldwide media rights to the IPL in an all-out effort that would cost media mogul Rupert Murdoch $2.55 Billion over five years, outbidding a dozen other digital and media behemoths. It outperformed Facebook, Reliance Jio, Bharti Airtel, and Sony.
TATA Group bagged the title sponsorship from the 2022 season for a two-year tenure till 2023 and hence has succeeded Dream 11 who were the title partner from 2020 after VIVO pulled out of the contract. IPL 2022 will officially be called TATA IPL 2022 and they bagged title sponsor with a whopping $ 58.4 Million.
Official sponsorship raised by IPL for the season 2022 – 23 is substantial Rs. 210 Cr. The Sponsors who bid for the slots were Dream11, Unacademy, TATA Safari, CRED, Upstox & RuPay
Umpire/ Strategic Timeout Sponsorship
The revenue generated from Umpire Partner Sponsorship is sold at Rs. 28 Cr. while Strategic Timeout Sponsorship is sold at Rs. 30 Cr. PayTm remains the Umpire partners CEAT retains their Strategic Timeout Sponsorship for TATA IPL 2022.
The IPL is the world’s fourth-largest sports league, with a net worth of $6.3 billion. Cricket is more than simply a sport; it’s an experience. Every Indian, regardless they like it or not, will always be aware of it in some manner. And the BCCI certainly understands how to capitalize on it.
So, the next time you watch a game, keep the high price tag in mind. Over the last two decades, cricket in India has proven recession-proof. And T20, which is always improving and has surpassed the other two forms, has elevated the IPL to the ranks of the world’s top sports leagues.