Reports: IPL teams to receive INR 250 crore annually from BCCI
IPL has again proved to be a hefty accumulator for the eight investors, who have put in heavy amounts for top cricketers
What's the story?
All eight IPL franchises will now be receiving an amount of INR 250 crore on an annual basis from the BCCI, a sum which will be extracted from the central revenue which the Indian board will be generating on conducting the lucrative tournament, as reported by Mumbai Mirror.
In case you didn't know..
The earlier allocation from the board's revenue to the particpating teams in the cash-rich league was far lower at INR 60 crore. Thus, the new amount to be distributed now stands at more than four times of the previous one.
The 2018 event will also see the return of the Chennai Super Kings and the Rajasthan Royals to the fold after missing out on the previous two seasons owing to illegal activities. In 2016 and 2017, they had been replaced by the Gujarat Lions and the Rising Pune Supergiants.
The heart of the matter
Before announcing this mega deal for the teams, the BCCI had hit a jackpot in 2017 when the Star network had grabbed the IPL broadcasting rights for a whopping INR 16,347 crore for a period of five years starting 2018, and thus lasting until the 2022 season. That would imply that the BCCI would be receiving a sum greater than INR 3,200 crore per year of the IPL. However, the previous broadcast partners Sony would provide only INR 800 crore on a per season basis, with the new broadcaster Star Sports to pay more than four times the sum now.
Also, the BCCI's sponsorship agreement with Vivo means that they will be receiving INR 2000 crore from them as well in the coming years of the IPL.
The 11th season of the IPL commences on April 7 with defending champions the Mumbai Indians taking on the Chennai Super Kings at home, with the final also scheduled to take place at the Wankhede Stadium on May 27.
Already known for its rewarding abilities for the franchises as well as the BCCI, the IPL has once again proved to be a hefty accumulator for the eight investors, who, like every season, have invested heavy amounts in top cricketers, citing the IPL title.