Indian Premier League has been the best T20 league since its inception in 2008. The IPL has developed a great interest amongst people in India and worldwide. The IPL is also the reason why other countries have formed their franchise league tournament. The KFC Big Bash League, Caribbean Premier League, Pakistan Super League, Bangladesh, and Sri Lankan Premier League is the idea they got through IPL.
The IPL is like a Cricket festival for their fans every year. They held the IPL 2020 during the world pandemic of COVID-19 in the UAE. That also showed its fans that nothing could stop this cash-rich league tournament, not even the deadly virus like Corona. The IPL 2021 season will start this upcoming Friday, 9th April 2021, and it will be another long tournament, which ends on 30th May 2021.
Money is involved hugely in IPL, so they call this tournament a cash-rich league tournament. We all know that the players make a hefty amount through the IPL auctions. But do we know how the franchises and the owners make money from this tournament?
Today in this segment, we shall let our IPL fans and Cricket lovers know about the Top Five ways which have helped the IPL owners and franchisees to make money through this Incredible Premier League tournament –
- Media Rights – Media rights have been the most significant source of revenue in the history of IPL till now. The IPL owners and franchises earn sixty to seventy percent through the sources of media rights. Star India has gained media rights for a whopping amount of 16 374.50 crores. The Indian Board, BCCI collects these revenues before its shares with the eight owners and franchises of the IPL.
- Title Sponsors – The second way the IPL owners and franchise makes money is from their title sponsors. Currently, Dream 11 is the title sponsor for this tournament, and previously, Vivo, Pepsi, and DLF were the title sponsors of the Indian Premier League. The revenue from the title sponsors also helps the owners and franchisees. Dream 11, the current title sponsor, won the bid for 222 crores when BCCI discontinued the title sponsorship rights from Vivo due to the political tension with China. The title sponsor’s revenue is distrusted equally amongst IPL franchises and owners before BCCI keeps some amount.
- Tickets Sales – The third source of making the money for the IPL franchises and owners is the ticket source. The ticket sales help the franchises and owners to cover a significant portion of the revenue. In the home matches, the tickets’ prizes are decided by the owners, and the revenue generated from these ticket sales also goes to the owner’s pockets. BCCI and the other sponsors get few tickets while the rest of them goes to the owners.
- The Prize Money – The Prize Money is the fourth source from which the IPL franchises and owners make money. The winner gets an enormous amount of money. They distribute the rest of the money with the seven teams.
- Merchandise – The last source of the moment the IPL owners and franchise earn is through the merchandise. The IPL owners and franchises also receive a significant amount of money through the source of merchandise, which comes through the team’s jersey, sports equipment, souvenirs, etc.