Published : Sep 6, 2024, 9:06 AM IST
Hyderabad: The Indian Premier League (IPL) franchises saw a huge surge in their revenue after the 2023 season of the cash-rich league, a report has claimed.
In total, the franchises received ₹4670 crore from the Board of Control for Cricket in India (BCCI) for the distribution from the central pool after IPL 2023, compared to ₹2205 crore that they received after the IPL 2022. Eight out of the ten franchises have seen their revenue doubled.
As per Economic Times, Mumbai Indians (MI) earned ₹358 crore in FY23 which doubled to ₹737 crore in FY24, the highest revenue among all teams. The second on the list is Ruturaj Gaikwad-led Chennai Super Kings (CSK), whose revenue shot up to ₹676 crore from ₹292 crore. In other words, the five-time champion side saw exponential - 4x growth and a profit of ₹229 crores.
The next in the chart is Virat Kohli's Royal Challengers Bengaluru (RCB) with ₹650 crore as revenue and a net profit of ₹222 crore.
Sun TV Network, the owners of the Sunrisers Hyderabad and Eastern Cape franchises, have seen a 138% jump in their revenue in 2024, thanks to the franchises both side's exceptional performances in their respective leagues. Sunrisers Hyderabad led by Pat Cummins stormed into the final on the back of their fiery batting lineup but failed to cross the finishing line while Sunrisers Eastern Cape led by Aiden Markram clinched consecutive titles in the SA20 league.
However, the world’s richest cricket league, the Indian Premier League (IPL), has witnessed a decline of 11.7% in its valuation, as per a report. The league's business has suffered a loss of around 9800 crores and as its valuation came down from ₹92,500 crore to ₹82,700 crore, thanks to the amends made to the media rights recently.