Mumbai: Three Indian Premier League (IPL) teams - Mumbai Indians, latest champions Royal Challengers Bengaluru (RCB) and Lucknow SuperGiants (LSG) - reported revenue declines in FY25.
Mumbai Indians, owned by Reliance Industries-controlled Indiawin Sports, posted a profit of ₹84 crore in FY25, down from ₹109 crore in the previous year. Revenue declined to ₹697 crore from ₹737 crore.
Diageo-owned Royal Challengers Bengaluru reported revenue of ₹514 crore in FY25, down from ₹649 crore in FY24. The company attributed the decline mainly to the lower number of IPL matches played by the team.
To be sure, besides Mumbai Indians in the IPL, Reliance also owns teams in SA20, International League T20, Major League Cricket, the Women's Premier League (WPL), and The Hundred.
The owners of RCB posted a profit of ₹140 crore, compared with ₹222 crore in the previous fiscal, due to fewer men's IPL matches. During the year, the company declared and paid an interim dividend of ₹120 crore. The company also owns a team in the WPL.
"However, the company's FY2025 revenues will also depend on how many matches of IPL 2025 are played in Q4 FY2025," ICRA said in its credit rating report on the RCB owners.
Revenues for FY25 include a significant portion from IPL 2024 matches and part of IPL 2025, as the tournament typically runs from the last week of March to May, spanning two financial years.
According to the Board of Control for Cricket in India's (BCCI) FY24 annual report, it paid ₹4,578 crore to IPL teams for 2024. The board earned ₹11,703 crore from the tournament, including ₹8,744 crore from media rights, ₹2,163 crore from franchise fees, and ₹758 crore from sponsorship.
The annual report of RPSG Ventures shows that its subsidiary, RPSG Sports (owners of LSG), reported a turnover of ₹557 crore in FY25 and a net loss of ₹72 crore. In FY24, RPSG Sports had reported ₹59 crore profit on revenue of ₹694 crore. The company is obligated to pay ₹709 crore annually as franchise fees until 2031.
The original eight IPL teams, excluding LSG and Gujarat Titans, pay 20% of their income from net central rights, sponsorship, and ticketing revenues to the BCCI as fees.
"LSG has developed a strong fan base and enjoys healthy ticket revenues. It has also garnered attractive sponsorships. These, coupled with revenues from broadcast rights augur well for the business," RPSG Ventures chairman Sanjiv Goenka said.
RPSG Ventures also owns 51% in RSVPL, which in turn fully owns RPSG Sports South Africa RPSG SA). RPSG SA operates Durban SuperGiants, a franchise in the SA20 league. In February 2025, RSVPL was declared the successful bidder by the England and Wales Cricket Board for acquiring a controlling stake in Manchester Originals.
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Diageo-owned Royal Challengers Bengaluru reported revenue of ₹514 crore in FY25, down from ₹649 crore in FY24. The company attributed the decline mainly to the lower number of IPL matches played by the team.
To be sure, besides Mumbai Indians in the IPL, Reliance also owns teams in SA20, International League T20, Major League Cricket, the Women's Premier League (WPL), and The Hundred.
The owners of RCB posted a profit of ₹140 crore, compared with ₹222 crore in the previous fiscal, due to fewer men's IPL matches. During the year, the company declared and paid an interim dividend of ₹120 crore. The company also owns a team in the WPL.
"However, the company's FY2025 revenues will also depend on how many matches of IPL 2025 are played in Q4 FY2025," ICRA said in its credit rating report on the RCB owners.
Revenues for FY25 include a significant portion from IPL 2024 matches and part of IPL 2025, as the tournament typically runs from the last week of March to May, spanning two financial years.
According to the Board of Control for Cricket in India's (BCCI) FY24 annual report, it paid ₹4,578 crore to IPL teams for 2024. The board earned ₹11,703 crore from the tournament, including ₹8,744 crore from media rights, ₹2,163 crore from franchise fees, and ₹758 crore from sponsorship.
The annual report of RPSG Ventures shows that its subsidiary, RPSG Sports (owners of LSG), reported a turnover of ₹557 crore in FY25 and a net loss of ₹72 crore. In FY24, RPSG Sports had reported ₹59 crore profit on revenue of ₹694 crore. The company is obligated to pay ₹709 crore annually as franchise fees until 2031.
The original eight IPL teams, excluding LSG and Gujarat Titans, pay 20% of their income from net central rights, sponsorship, and ticketing revenues to the BCCI as fees.
"LSG has developed a strong fan base and enjoys healthy ticket revenues. It has also garnered attractive sponsorships. These, coupled with revenues from broadcast rights augur well for the business," RPSG Ventures chairman Sanjiv Goenka said.
RPSG Ventures also owns 51% in RSVPL, which in turn fully owns RPSG Sports South Africa RPSG SA). RPSG SA operates Durban SuperGiants, a franchise in the SA20 league. In February 2025, RSVPL was declared the successful bidder by the England and Wales Cricket Board for acquiring a controlling stake in Manchester Originals.
