IPL’s media rights for the next five years were bought for Rs 48,390. How much is that? We compared the price to put in perspective the amount the BCCI has earned.
The amount raised under IPL media rights is higher than any IPO the country has ever seen. (Photo credit: Mukesh Adhikary)
BCCI’s income of Rs 48,390 crore from selling the IPL media rights is so huge, that it merits putting the figure in some kind of perspective – and that’s what India Today is breaking it down to. Comparing the amount with state budgets, biggest mergers and acquisitions, most expensive government schemes, largest IPOs and most profitable companies, proves that IPL is indeed an incredible success story.
If the IPL media rights price was compared with the government’s expenditure on major schemes for FY23, BCCI’s earnings from the league will rank 4th in value above the National Education Mission and the National Health Mission.
If compared to the companies that earned highest profits in 2021-22, IPL media rights price alone would stand second on the list next to Reliance Industries.
The price at which IPL media rights have been sold is also more than any of the top eight mergers and acquisitions that took place in 2021.
The amount raised under IPL media rights is higher than any IPO India has ever seen. The graph below compares it to some of the most recent IPOs, including LIC, Paytm.
The IPL media rights amount is more than the FY2022-23 budget of many small states, including all seven states of the North East.
At Rs 48,380 crore, the BCCI is looking at a windfall which is higher than the industry-wise cost to the government for offering incentives under the PLI schemes to boost domestic manufacturing.
The figure of Rs 48,390 crore, an unprecedented number in Indian sports broadcast industry, is nearly 3 times the price (Rs 16,347.50 crore) at which the richest cricket board sold the media rights for the previous cycle (2018-22) in 2017, highlighting the value of the brand IPL that has exceeded expectations in terms of its growth.