Gujarat Titans Eyes 35% revenue growth
He also said that the new media rights deal which will kick in this year will significantly improve the revenue and profitability of the franchises. “The enhancement of the price of the broadcast rights has an obvious positive impact on both the top and bottom line for any franchise,” he added.
In June 2022, the Board of Control for Cricket in India (BCCI) sold IPL media rights for ₹48,390 crore for the 2023-27 media rights cycle.
The IPL central revenue pool which includes media rights income and central sponsorship revenue is shared in equal proportion between the BCCI and the franchises. Out of the 50% that the franchises are entitled to receive, 45% is split evenly across every team while the remaining 5% is distributed based on the performance of the team.
According to market estimates, each of the ten IPL franchises is expected to garner sponsorship revenue between ₹100 to 120 crore. Gujarat Titans had earned sponsorship revenue worth ₹65 crore from the previous year’s IPL.
For all the latest Sports News Click Here
For the latest news and updates, follow us on Google News.