The Indian Double League: Power play revenues of top IPL franchises rise 2x in FY24
Indian Premier League (IPL) franchises more than doubled their revenues for the year ended March 2024, with significant improvements in profitability, largely on the back of increased share from the league’s central revenue pool during IPL 2023.
The 10 teams collectively received Rs 4,670 crore from the Board of Control for Cricket in India (BCCI) for the IPL 2023 compared to Rs 2,205-crore share from the central pool for the IPL 2022, as per BCCI’s annual report for FY23.
“The first eight IPL franchisees have been profitable for more than eight years now and their profits have significantly increased in FY24, and are expected to be at that level going forward due to the media rights renewal in 2022 and the resulting increase in the central pool,” D and P Advisory managing partner Santosh N said.
“The couple of new franchisees would be generating negative cash flows due to their contractual payments to BCCI towards the purchased franchisee rights.”
He said IPL has become a cash cow to all the franchisees, helping them to invest in other cricket leagues, WPL teams and other sports leagues.
“Some of these franchisees could become global sporting giants in the future,” Santosh said. Reliance Industries-owned Mumbai Indians’ revenue more than doubled to Rs 737 crore in FY24 from Rs 358 crore in FY23, according to its annual report. It had the highest revenue among all the IPL teams.
The franchis recorded a profit of Rs 109 crore last year against a net loss of Rs 49 crore in FY23.
Similarly, Chennai Super Kings’
