Sit down and take a deep breath. No one could have imagined such a scenario that the Indian Premier League would soon become the second most valuable sporting asset in the world. In its 15 years of existence, IPL 48,390 for an astronomical amount or in other words, broadcasters will have to pay Rs 118.02 crore to BCCI for each match during the next five-year cycle.
Read also: IPL Media Rights 2023-27 – Viacom18’s Big Digital Play
BCCI secretary Jay Shah on Tuesday termed ‘red letter day for Indian cricket’ as in a series of tweets he gave a brief idea of how the board will “start the domestic cricket structure from the ground up, boost infrastructure”. plans to spend the money for” and adorn the facilities throughout India and enrich the overall cricket watching experience.”
Read also: ‘BCCI will prepare two national teams simultaneously’
Now the big question is how will BCCI share the jaw-dropping revenue among its stakeholders including IPL franchises, players, state associations and its employees?
Here is a brief outline:
IPL Franchise
Half of the Rs 48,390 crore will be distributed among the eight parent franchises i.e. Mumbai Indians, Chennai Super Kings, Kolkata Knight Riders, Rajasthan Royals, Royal Challengers Bangalore, Sunrisers Hyderabad, Punjab Kings and Delhi Capitals. The two new entrants – Gujarat Titans and Lucknow Super Giants – will have to wait for some time to get an equal share of their eight counterparts. Roughly speaking, each of the eight IPL teams mentioned above will get around Rs 3,000 crore.
What about the other half? (Rs 24,195 crore)
The remaining half will be shared with the players and state associations. According to a report in the Indian Express, the old formula was to split the stock, which would be 26 per cent of the second half to be distributed between domestic and international players. Out of the remaining 74 per cent, four per cent has been earmarked for the salaries of the employees and the rest will go to various state unions.
Numerically, Rs 6290 crore (approx) will be shared with the players and Rs 16,936 crore (approx) will be shared with the BCCI affiliated state boards.
Get all the latest updates cricket news, cricket pictures, cricket videos And cricket score Here