In a series of tweets, BCCI Secretary Jay Shah briefly overviewed how the BCCI intends to use the ₹48,390 crore it received from the IPL Media Rights auction for the 2023-27 cycle.
The IPL Auction was a" red-letter day" for Indian Cricket. After the new Media Rights, the IPL became the second-costliest league on a per-game basis, just behind the National Football League (NFL) and ahead of powerhouses such as the English Premier League (EPL) and Major League Baseball (MLB). Looking at how the money will be distributed, half of the ₹48,390 crore will go to the franchises. The eight original franchises, i.e. Mumbai Indians (MI), Chennai Super Kings (CSK), Kolkata Knight Riders (KKR), Rajasthan Royals (RR), Royal Challengers Bangalore (RCB), SunRisers Hyderabad (SRH), Punjab Kings (PBKS), and Delhi Capitals (DC) will receive a slightly higher share than new entrants Gujurat Titans (GT) and Lucknow Super Giants (LSG).
The other half will be spent on strengthening the foundation of Indian cricket. Players, Staff, and State Boards will be compensated, thanks to the significant influx of money from the Media Rights Auction. In the previous model, 70 per cent of this half was given to the state boards. Four per cent was given to the staff, and 26 per cent was distributed between various domestic and international players in the IPL.
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In his recent tweets, BCCI Secretary Jay Shah said, "Since its inception, the IPL has been synonymous with growth & today is a red-letter day for India Cricket, with Brand IPL touching a new high with e-auction resulting in INR 48,390 cr value. IPL is now the 2nd most valued sporting league in the world in terms of per match value! I thank all the bidders for their active interest in securing the IPL Media Rights."
"As a key stakeholder, the BCCI will do everything possible to help you realise the full value of your investments. The BCCI will utilise the revenue generated from IPL to strengthen our domestic cricket structure starting from grassroots, to boost infrastructure and spruce up facilities across India, and enrich the overall cricket-watching experience. Now, it's time for our state associations and IPL Franchises to work together with the IPL to enhance the fan experience and ensure that our biggest stakeholder – 'the cricket fan' is well looked after and enjoys high-quality cricket in world-class facilities," concluded Shah.