The Board of Control for Cricket in India (BCCI) is expected to generate an income of Rs 800 crore from the Indian Premier League (IPL) 2022. The Board will generate this money from sponsorships and other deals related to the marquee tournament.
This is the highest since the inception of IPL, and the reason is the addition of several new sponsors for the event.
BCCI has included the TATA group as the title sponsor of the event and has also added two new associate sponsors. The cricket board has also announced a collaboration with Swiggy Instamart and RuPay for central sponsorship.
With this, BCCI now has nine renowned brands as sponsors for IPL 2022.
According to sources, BCCI has completed a deal of Rs 42 crores with RuPay and Rs 44 crores with Swiggy Instamart every year for the IPL sponsorship
As per a statement given to InsideSport by BCCI secretary Jay Shah, the significant deal reflects the value of IPL as a brand.
Shah has also stated that they are happy with the sponsorship deal and while the exact figures of the deal can’t be disclosed, this year will witness the highest amount of sponsorship revenue for IPL.
A massive surge in the IPL oriented income of the BCCI this year is primarily due to two reasons. First, the number of sponsors for IPL 2022 has increased considerably, and second, is the announcement of the title sponsorship deal for the event.
Being the title sponsor, the Tata Group will pay Rs 335 crore every year to IPL. According to sources, the sponsorship deals have been arranged in a way that Chinese smartphone maker Vivo will pay for all deficits.
According to Insidesport, BCCI will not only get the amount for a contract with Vivo till 2023 but will also receive the pro-rata payment for an increase in the number of matches in IPL 2022 and 2023.