The Board for control for cricket in India(BCCI) conducts IPL every year. Undoubtedly BCCI gets more money from IPL rather from all other international matches. Generally, IPL takes place in March or April. So there are a total of 8 teams representing 8 cities or places. In 2008 BCCI found the league. Indeed BCCI is the richest cricket board internationally. Moreover, BCCI doesn’t depend on or control the government. But BCCI has its own rules and regulations. So the profit is not shared with the government. And The members of BCCI are selected by their respective states. And also BCCI conducts national and international matches.
Though IPL Players earn more than football players. So because of IPL, the value of GDP will increase by 4000 crores. The eight teams in IPL are Chennai Super Kings, Royal Challengers Bangalore, Mumbai Indians, Kolkata Knight Riders, Sunrisers Hyderabad, Kings 11 Punjab, Rajasthan Royals, and Delhi Capitals
How BCCI gets the money?
1. TV rights and digital rights: In the year 2008, Sun TV network met BCCI. And therefore brought IPL to broadcast on their channels. For the sum of 8200 crores. Continuing for 10 years that is up to 2017. So which means for 1 year they have spent 820 crores.
2. Later, Star network brought IPL to broadcast in channels and also in-network. And for the worth of 16347 crores. So they acquired the permission for 5 years. So they can telecast the match from 2018- 2022. Star connection has spent 54 crores per match. To collect permission from BCCI, channels have to give their names for bids and bets. But in 2018 star connection spent more than the sum. of all other channels. The sum of all channels is 15819 crores. But only star connection has bought it for 16347 crores. Star connection pays 43 crores to BCCI to telecast the international match. But to telecast an IPL match it pays 54 crores.
Sponsorships of IPL
2.Sponsorship: Every year few companies charge to become a part of title sponsors. Generally, they are like Pepsi IPL, Vivo IPL, and Dream11 IPL many more. DLF REAL ESTATE company was the sponsor for IPL from 2008-2012. DLF real estate spent an amount of 200 crores and bought title sponsorships. Later in 2013-2015 Pepsi company bought for 200 crores. And also in 2016-2017 for 2 years, VIVO bought it for 200 crores. And also VIVO spent 2200 crores for 2018-2022. But due to the China India border Issue, Vivo canceled the deal. And Later Dream11 bought IPL 2020 for 200 crores.
Jersey Sponsors for IPL
Jersey Sponsorship: BYJUS is the Jersey sponsor for the IPL. Additionally, not only jerseys but also associative sponsors are also included. But in this year CRED, TATA, UNACADEMY, and a few more are the associate sponsors. So we can see these company logos near Boundaries, Third empire decision, and time out points. Phonepe, just dial, and Byjus are co-sponsored. And also Groww, Asian paints, Vodafone, Amazon prime, Bingo, frooti, and a few more are associative sponsors.
How Cricket Team of IPL earns Money?
1. Tickets: For suppose let us think of a match between Chennai Super Kings and Sunrisers Hyderabad at Delhi. So that the tickets sold at Delhi stadium are owned by the team owner who bought the team. And also the profits from the food items sold belong to the owner of the Match.
2. Sponsorships: the players were jerseys which consist of some company’s Identity. Let’s talk about Chennai Super Kings Jersey. The front side of CSK is Myntra and behind it is India cement. So therefore Myntra and Indian Cement are Jersey sponsors for CSK in 2021. So these companies pay money to the team owner of CSK.
3. Online Selling: As each player wears a Jersey, after the completion of the game. Jersey worn by players is sold on the online platform. So which in turn produces few amounts of money. And not only the Jersey but also other products are also sold out.
4. THROUGH BCCI: The money and the payment got from broadcasting communities are shared. So BCCI spends 50% of the amount on the teams. For Instance, if BCCI got 1000 rupees then 500 is returned to IPL teams. So in 2019 and also In 2020, the prize money is 32.5 crores for the winner and runner-ups.
How IPL players get Money?
1. Remuneration: The team owner of a Team buys the players for the money. Virat Kohli gets the highest of the total sum of rupees 17 crores. M.S Dhoni and Rohith Sharma got paid 15 crores.
2. Awards: In every IPL, awards are given to the players. Like Orange Cap, Purple Cap, Player of the match, Maximum Sixes Award, Most Valuable Player, and a few others are also listed.
How TV channel gets Money?
1. Advertisement: If a company wants to reach out its products to people then Advertisement is the best way they opt for. Because many people watch TV and some of the other they might use it. So In between the match after six, wickets we see some ads displayed. So through this advertisement, the Tv channel gets finances. The Payment is based on the timing process.
2. Channel Subscriptions: So if we need to watch the match on A TV channel then we must subscribe to that channel. Because we can able to see the full-fledged IPL match overall. Initially, we pay 10-20 rupees for a channel. And some crores of people subscribe to it and there comes the income from. And brand becomes Public and powerful.
How BCCI spends money?
As we know that players play matches like the Ranjit trophy and all. BCCI spends the money for it. And also BCCI sports players traveling, and other activities. Also, BCCI bears the staff, hotel, and all. The government gets Taxes from all the sources mentioned through profits. And another source is from.GST. So foreign players are also included in IPL. So the certain amount of money remuneration has to pay to their country board. And also playing other matches is considered by the players only. And also 4 foreigners in a team are prohibited. Also, the Money spent is ranged.
So we all love watching IPL. And also many people chill while watching Cricket. Obviously, we support India, while playing internationally. But in the case of IPL, we have different favors.
Hope this article is informative. Thank you for reading and keep supporting for upcoming blogs. Cheers!!