Sit down and take a deep breath. Nobody in their wildest of imaginations would have created a scenario that the Indian Premier League would soon become the second most valued sporting property in the world. In its 15 years of existence, the IPL has managed to sell its media rights for an astronomical sum of Rs 48,390 or in other words, the broadcasters will be paying BCCI Rs 118.02 crore for each match during the next five-year cycle.
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BCCI Secretary Jay Shah termed Tuesday as a ‘red-letter day for India Cricket’ as in a series of tweets he gave a brief idea of how the board plans to spend the money to strengthen “domestic cricket structure starting from grassroots, to boost infrastructure and spruce up facilities across India and enrich the overall cricket-watching experience.”
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Now the big question: How will the BCCI share the jaw-dropped revenue among its stakeholders including the IPL franchises, players, state associations and its staff?
Here’s a brief outline:
IPL franchises
Half of Rs 48,390 crore will be distributed between the eight original 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 before getting as much share as their eight counterparts. Roughly, the 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 other half will be shared with players and state associations. As per a report in the Indian Express, the old formula of dividing the share was 26 percent of the second half will be distributed among domestic and international players. Off the remaining 74 percent, four per cent has been earmarked for the staff salaries and the remainder will go into the kitty of the various state associations.
Numerically speaking, Rs 6290 crore (approx.) will be shared with players and Rs 16,936 crore (approx.) with BCCI affiliated state boards.
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