Board of Control for Cricket in India (BCCI) has been expanding at a very good rate recently and the benefits of it have been reaching its partners as well. The IPL franchises are set to receive four times more shares from BCCI’s revenue, than before.
As reported by Ahmedabad Mirror, the eight teams in the league used to receive Rs. 60 crore annually for the past 10 years of operation. But now, they will be receiving Rs. 250 crore annually, a four-fold increase from the last amount.
The BCCI settled for a massive Rs 16,347 crore media rights deal with broadcaster Star India. The deal results in the BCCI receiving a sum of Rs 3,200 crore per season from Star, a four-fold increase from the Rs 800 crore that they used to receive from SPN.
Vivo also retained the title sponsor rights of IPL for a whopping a Rs 2,199 crore bid — a 554 percent increase from the previous contract — for the period between 2018-2022.
On the other hand, the teams will also have to shell out 20 percent of their annual income — which includes the Rs 250 crore that they will be receiving — to the BCCI.
The IPL 2018 season will start from April 7 with Mumbai Indians taking on Chennai Super Kings at the Wankhede Stadium.