The Board of Control for Cricket in India (BCCI) recorded a substantial surplus of ₹5,120 crore from the Indian Premier League (IPL) 2023, reflecting a 116% increase compared to the ₹2,367 crore surplus from the previous year, according to a report published by the Economic Times.

This financial boost was primarily driven by a significant rise in total income, which surged by 78% year-on-year to reach ₹11,769 crore. The growth was primarily attributed to new media rights and sponsorship deals that came into effect with the IPL 2023 season, the report said.

According to the report, a major contributor to this financial success was the media rights income, which skyrocketed by 131% to ₹8,744 crore from the previous year's ₹3,780 crore. The BCCI secured a lucrative media rights deal worth Rs48,390 crore for the 2023-2027 cycle, with Disney Star securing the TV rights for ₹23,575 crore and Viacom18's JioCinema acquiring the digital rights for ₹23,758 crore.

Additionally, the IPL title rights were sold to Tata Sons for ₹2,500 crore for a five-year period, and associate sponsorships brought in another ₹1,485 crore from brands like MyCircle11, RuPay, AngelOne, and Ceat, the report added.

The report also stated that the Women's Premier League (WPL), which debuted in 2023, also contributed to the BCCI's financial success, generating a surplus of ₹377 crore. The WPL's income, amounting to ₹636 crore, came from media rights, franchise fees, and sponsorships, while the expenditure stood at ₹259 crore.

According to the report, in terms of expenses, the BCCI's expenditure for IPL 2023 rose by 66% to Rs6,648 crore. The board also paid Rs4,670 crore to IPL franchises from the central revenue pool, which was more than double the amount distributed in the previous season. Overall, the BCCI's surplus for the fiscal year increased by 38% to Rs3,727 crore, with total income jumping by 50% to Rs6,558 crore, while expenditure rose by 70% to Rs2,831 crore.

BCCI all set to hit the jackpot at the end of fiscal year

The BCCI's financial position remains strong, according to the report. At the end of the fiscal year, its bank balance was Rs16,493.2 crore in various savings and current accounts and fixed deposits, up from Rs10,991.29 crore the previous year.

Despite these financial successes, the BCCI is facing challenges regarding India's participation in the ICC Champions Trophy 2025, scheduled to be held in Pakistan. Due to the strained political relations between India and Pakistan, the BCCI has decided that the Indian team will not travel to Pakistan. Instead, the board plans to request that the International Cricket Council (ICC) hold India's matches in a neutral venue, such as Sri Lanka or Dubai.

The BCCI's strong financial performance makes it a dominant force in global cricket, but the ongoing geopolitical tensions between India and Pakistan could complicate future international cricket events involving the two nations.