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How much money does cricket generate?

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The BCCI as the governing body for cricket is headed by the Ministry of Youth Affairs and Sports. The organization works or operates autonomously, and does not come under any national sports federation in India. BCCI is the richest cricket board in the world which is a federation of all the state cricket associations.

Apart from BCCI, there are only two other names at this level and the names are Wales Cricket Board and Cricket Australia. In recent years the BCCI has been criticized for practices that are monopolistic with some serious corruption allegations. After winning the World Cup in 1983, BCCI organized the next coming World Cup which was showcasing its strength in organizing such a big event in 1987.

You will be surprised to know that as an official member of the 104-nation International Cricket Council, it is one of the most popular sports in the world.

But the cricket game in India is more popular than anywhere in the world. When we talk about IPL, it is relatively a very new league and for only 11 seasons IPL has made more money than Baseball which is a major league. According to a value proposition done by Duff & Phelps in 2017, the IPL was a 5.3 billion venture which is a 26% increase over the previous year.

Talking about the media and advertising side, in 2017 only the sponsorship amount was estimated at 1 billion. This financial report was produced by IEG which is a valuation firm. The game is rich in tradition, but recent changes have been made to reduce playing time, which has helped fuel its commercial success.  Such shorter game formats can make it convenient and easier to watch matches, and allow more matches to be played. Crores of viewers are now watching this new version of cricket.

The game of cricket has become so big that it has even caught the attention of big players like Sony, Fox, Facebook and some of the major US advertising firms.

Just understand it this way. In few weeks of IPL, 10 teams are going to participate playing against each other and you will not believe that organization organizing these games will earn in millions in these few weeks. For example, during the 2018 IPL season, according to a report released by Star India, 317 million viewers were watching the game by which you can guess how much value it earned from media revenue.

The popularity of the IPL has spread beyond the borders of India, making its global broadcast rights important. Cricket players around the world usually play in more than one Twenty20 league every year. Twenty20 matches are very shorter. Twenty20 players from Pakistan’s Super League or Australia’s Big Bash League can play in the IPL, while also playing for their national teams or others.

Did you know?

BCCI:

  • With numerous matches played Domestic and Internationally, BCCI’s net worth is estimated to be more than Rs 14,489.80 crore ($2 billion)
  • BCCI earns its humongous amount of wealth from global media rights (Ex. Star India), title sponsorship rights (Ex. Paytm) which is including domestic and International matches for 326 Crores (From Year 2019 to 2023). Official Kit sponsorship rights such as Nike for 360 Crores (From 2016 to 2020). Indian Cricket Team sponsor – Byju for Rs. 1,079 Crores
  • The official sponsors for BCCI are Dream 11, Ambuja Cement, Hyundai Motors Company for the year 2019 to 2023. These three companies alone will contribute worth Rs. 2.59 Crore per match to BCCI
  • BCCI also has a set value received from ICC as share according new revenue model

ICC:

  • ICC earns income from tournaments that it organizes similar to BCCI but you will be surprised to know that BCCI holds 80% stake in ICC
  • According to financial report 2020 published on Wikipedia. ICC’s net worth estimates US$40.7 million.

IPL: 

The estimated worth value of IPL is more than (US$6.3 billion) according Duff & Phelps.

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