Tag: BCCI

The Economic Impact: How IPL Is Shaping BCCI’s Finances

Since its start, the 17th edition of the Indian Premier League (IPL), an idea of the Board of Control for Cricket in India (BCCI), has captivated spectators. The value of the Indian Premier League (IPL), one of the world’s most popular sports competitions, increased by nearly 28 percent to a staggering $10.7 billion in 2023, up from $8.4 billion the previous year. According to a press release from Brand Finance, the top brand valuation consultant in the world, the overall brand value of the IPL system has increased by 433% since its introduction in 2008. A company is considered a decacorn if its valuation is greater than $10 billion.

Based on these numbers, it’s easy to see that the Indian Premier League is more than simply a cricket event for the BCCI; it’s a yearly moneymaker that helps turn the board into one of the wealthiest in the world. The fact that hardly a single nation plays a single tournament, bilateral series, test, or one-day international series during the two months that the IPL is running is evidence enough of the tournament’s thunderous influence.

Talking about the economics of the tournament and how it has been finically fueling the board over the years, it’s true that the League has increased tourism in India. Travelers from all over the globe go to India for the Indian Premier League season because of the event, which captivates cricket fans everywhere. Fans from around the world flock to India to see the matches in person, boosting the country’s tourist industry as they reserve plane tickets, hotels, and taxis. Fans are encouraged to explore other locations, partake in local experiences, and visit tourist attractions as the IPL matches are scattered throughout several cities inside India. Hotel rooms are in high demand during the matches due to the large number of fans, players, and media workers that need to stay somewhere. In sum, the Indian Premier League is a powerful marketing tool for tourism, drawing attention to India as a dynamic cricketing and vacation spot.

Effects on a Large Scale
Promotional and Corporate Events

Effects on a Large Scale

In terms of macro factors, the KPMG survey emphasized the importance of IPL’s impact on India’s GDP. The study also notes that these months are very busy for hiring, thus there is a significant increase in job opportunities. The need for club-specific cheerleaders, coaches, stadium staff, security, medical teams, etc., is high. It creates a tonne of job openings in all sorts of industries.

The study also highlighted the positive impact of media exposure on tier-2 cities. Due to the widespread nature of the Indian Premier League cricket matches, they receive extensive media coverage. Thanks to the increased visibility of the IPL in the media, Tier-2 cities are putting more money into their infrastructure and development projects, and they are also seeing an uptick in tourists, which means more money in their pockets.

More tax contributions meant more money for the government, and more money for the BCCI thanks to the IPL. Taxes totaling around INR 3,500 crore have been paid by BCCI from the 2007–2008 fiscal year. The BCCI did not have to pay taxes because it was a charity until the IPL. Nevertheless, the Income Tax department classified the IPL as a commercial operation following its launch, and the BCCI has been subject to annual taxes totaling INR 350 crore ever since.

Fantasy Sports Gamers in India

In 2023, IPL matches contributed 35% to 50% of the total revenue for fantasy sports platforms. During IPL 2023, the revenue of Indian fantasy sports platforms grew by 24%, reaching $342 million, up from $275 million in the previous year. According to a 2023 report by the Federation of Indian Fantasy Sports (FIFS), the total enterprise value of the fantasy sports industry stands at USD 11.07 billion. Cricket dominates the sector, accounting for 85% of the registered users among all fantasy sports games. Between 2019 and 2023, fantasy gaming apps have experienced an 18% compound annual growth in the number of cash users each year during the IPL seasons.

Promotional and Corporate Events

Advertising and sponsorship opportunities are abundantly available through the Indian Premier League. The Indian Premier League (IPL) is a sought-after venue for advertisers to connect with a large demographic and forge lasting connections with consumers because of its devoted fan base and enormous viewership. Additionally, it provides opportunities for brands to become the tournament’s title sponsor. “The (Brand name) Indian Premier League” is one example of an official name that prominently features the brand name of the title sponsor. Any company can become an official sponsor of an Indian Premier League team. All sorts of team gear, including jerseys and helmets, feature the insignia of these sponsors. Advertising and sponsorship opportunities provided by the IPL help generate a lot of money for the league and give firms a great platform to sell themselves.

Finally, the Indian Premier League is largely responsible for the uptick in the country’s GDP. The IPL has boosted tourism and contributed to economic prosperity in many areas thanks to its capacity to draw in viewers from all over the world. Local economies have been greatly influenced by the league’s capacity to create job opportunities, back small businesses, and encourage the construction of infrastructure. The importance of the Indian Premier League (IPL) in establishing India as a premier cricketing destination and fostering brand loyalty is immeasurable. With its game-changing impact on cricket, the IPL has won over fans all over the globe and grown into a significant contributor to India’s GDP. With the tournament’s current level of success, its impact on the Indian market is only going to grow in the years to come.

The Negative Economic Impacts of the Indian Premier League

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FAQs

What is the impact of IPL on Indian economy?

The IPL has had a significant impact on the Indian economy, boosting sectors like sports, entertainment, tourism, and retail. It generates substantial revenue through sponsorships, media rights, and advertising, while also creating jobs and driving consumer spending. The tournament’s popularity has further fueled growth in related industries, including fantasy sports, merchandise, and hospitality.

How much does IPL contribute to Indian economy?

In 2024, the Indian Premier League (IPL) continued to significantly bolster the Indian economy. The tournament’s brand value surged by 13%, reaching $12 billion compared to the previous year.

What are the negative impact of IPL on Indian economy?

While the IPL contributes significantly to the Indian economy, it also has some negative impacts. The heavy commercialization of the tournament can overshadow traditional sports and divert attention from grassroots development. Additionally, the focus on gambling and fantasy sports during IPL seasons raises concerns about addiction and financial risks for some individuals.

March 20, 2025

IPL Salaries vs. BCCI Contracts: A Comparison of How Much Indian Cricketers Earn from Each

The IPL, a professional T20 cricket league initiated in 2008 by the BCCI, is the most prominent body in the cricket landscape in India. This fast-paced league is known for its unique mixture of cricket and entertainment and usually runs from March to May. Comprised of ten city-based franchises, this league has become an even more global phenomenon, attracted top international star talent, and created phenomenal commercial success with its media rights reaching nearly $6.4 billion in 2023.

Formed in 1928, the BCCI is the governing body of cricket in India, taking care of everything from player contracts to domestic tournaments to the national team. The BCCI also plays an important role in the grassroots development of the game and representation of India at international cricketing fora. They have made cricket what it is today: popular, and commercially strong with a credible platform for future aspiring players to show their art.

Indian Premier League (IPL)

The Indian Premier League or IPL is a Twenty20 professional cricket league created by the Board of Control for Cricket in India in 2008, which later on emerged as one of the most reputed and converting cricket leagues around the globe. It also consists of all franchises of respective cities of India. One way of taking place in the match is by forming the IPL with sports entertainment and watching enormous people’s views along with sponsorship.

Key Features

Format: The IPL takes the round-robin approach with playoffs at the end. A normal season will last for about two months, where generally the teams will play a certain number of matches, and then the best ones will move to the knockout stage.
Franchises: As of 2024, there will be ten franchises- Chennai Super Kings, Delhi Capitals, Gujarat Titans, Kolkata Knight Riders, Lucknow Super Giants, Mumbai Indians, Punjab Kings, Rajasthan Royals, Royal Challengers Bangalore and Sunrisers Hyderabad.
Popularity: The IPL therefore siphons off and harnesses talent, making it a viewership platform for international cricket stars as well as emerging players. The media rights of the league were sold for almost $6.4 billion in the year 2023.

Contracts of Players in IPL

The franchises bid formally for players at their auctions. Such auction modes bring about competition in salary growth and roster-making long-term planning at the level of teams.

Structure of Contract

Auction process: Players are sold through an auction conducted before each forthcoming season; in addition, each team is allowed to retain several previous season players under negotiated rates of salary.
Salary caps: Each of these franchises has a salary cap – that total amount over which they can not go into payment of salary to their players. The salary caps of all the teams were confined to INR 95 crore in 2024 (almost 11.5 million dollars).
Retention Rules: Teams can retain players before the auction to get them at the highest possible payment.

Compensation for IPL players

Compensation ranges significantly from player to player in the IPL, depending on his performance, the demand in the market for him, and the budget of the franchise. Players also make a good amount, often surpassing their national contract earnings.

Compensation Overview

Highest-Paid: Players with the Eclipse IPL would earn more than INR 20 crore (about $2.5 million) in one season. Mitchell Starc, for example, cost INR 24.75 crores in 2024.
Average Salaries: Of course, the millionaires are at the top, but there are a lot of domestic players who may earn very little. The average salary may vary from INR 1 crore to INR 10 crore depending upon the experience and performance.
Incentives: Performance milestones such as several runs scored or some wickets taken in the season could also earn players bonuses.

Recent Auction Updates

Most Expensive Players in IPL from 2014 to 2024

Indeed the 2024 IPL Auction brought in a greater amount of financial stakes with a record sale. As players contracted the most recently, with different international reputations and recent performance records like Mitchell Starc and Pat Cummins, The Franchise has moved again-now toward player acquisitions on building a balanced squad whose composition includes world talents with skilled domestic players.

The Indian Premier League has revolutionized the concept of cricket by introducing huge money through a dynamic contract and auction system. By combining competition with entertainment, it has made a great supplier of talent from all over the arena of Indian cricket with competitive competition among itself. The combination of the above factors has provided the impetus for high viewer engagement and sponsorship, resulting in the IPL developing into a commercial and sporting powerhouse. It has now become a cultural phenomenon that, beyond cricket, has managed to create an audience in India and the world as a unique blend of sport, glamour, and thrill. The IPL has an innermost effect beyond cricket grounds; it would be a game for some, but for others, it is not an entertainment spectacle and an engine for social and economic transformation.

Board of Control for Cricket in India (BCCI)

The BCCI, which is short for the Board of Control for Cricket in India, is that particular governing body that presides over the cricket sport in the entire India. The BCCI’s responsibilities primarily include all kinds of cricket–domestic or international–involvement in player contracts as well as development at different levels. Founded in 1928, the BCCI has been an integral part of this propagation of cricket in India and now boasts of being among the richest sporting governing bodies internationally.

Key Functions

Regulation: The BCCI regulates domestic tournaments such as the Ranji Trophy and IPL, and ensures compliance with International Standards.
Team Management: It looks after the National teams concerning formats (Test, ODI, T20) and is responsible for player selection and appointments, and coaching staff.
Financial Oversight: Controlling broadcasting rights, sponsorship deals, and revenue generation makes BCCI financially huge.

BCCI Contracts

Contracts issued by BCCI are in between one year from the board and selective players. It was contracted with the understanding of terms concerning the salary and obligations with entitlement bonuses received while representing India during this time. They segmented them into four structures based on a player’s performance and contribution to the country.

Structure of Contract

Categories: Four rankings are given to the players:

Grade	Salary
Grade A+	INR 7 crore in a year
Grade A	INR 5 crore in a year
Grade B	INR 3 crore in a year
Grade C	INR 1 crore in a year

Match Fees: Retainer salaries are supplemented with match fees for each player that varies depending on the format (Test, ODI, T20).
Performance-based Promotions: Representation-in grades for players can change while under this contract based on performance. High performances may entail bonuses or special incentives.
Contract Duration: Most of the time these contracts cover one cricket season (October-September), international cricket calendar-wise.
Additional Benefits: Central contract players avail reimbursement for travel or medical assistance or training facilities and many hotels, among others.

Compensation Overview

Grade	Annual Salary (INR Crore)	Notable Players
A+	7	Rohit Sharma, Virat Kohli, Jasprit Bumrah, Ravindra Jadeja
A	5	Mohammed Shami, KL Rahul, Hardik Pandya
B	3	Rishabh Pant, Surya Kumar Yadav
C	1	Rinku Singh, Mukesh Kumar

Recent Changes

BCCI announced central contracts for the next season in February 2024. Some key riders are as follows:

New players have been inducted under various categories for their recent performances.
Some established players left out of the contracts will not be part of this year’s roster because of performance or injury issues.
Contracts for fast bowlers to cater to their specific situations within the team.

BCCI plays an important role in adding to Indian cricket through its elaborate contract system: fair pay, and performance maintenance. Just the entitlement to a large salary depending on the category of player, plus additions for extraordinary performances, BCCI has been giving a supporting hand to the player financially and motivating him to perform on the international front. This way, the country boasts of being a giant in world cricket.

Conclusion

The backbone of Indian Cricket is the Board of Control for Cricket in India (BCCI), which has structured and financially well-paying contracts for its players. From clear player grades and salaries, BCCI ensures the best performers are rewarded while encouraging their new talents. By generating massive revenues from broadcasting rights, sponsorship, and the promotion of tournaments such as IPL, BCCI has kept the bar higher for other cricket-playing nations in international cricket.

This financial muscle does not only put the players under glamour contracts, but it also encourages cricket on all levels across the country. Without a doubt, Indian cricket will continue to prosper at home and in the international arena with all these efforts and provisions that BCC has put into player welfare, performance motivation, and management strategies in due course of time. This system is, after all, good not only for players but also for India’s standing as a heavyweight within world cricket, ensuring that such a force stays at the forefront of the game for many years to come.

FAQs

What is BCCI?

The Board of Control for Cricket in India (BCCI) is the primary governing body for cricket in India.

What is IPL?

The Indian Premier League (IPL) is an annual men’s Twenty20 cricket league organized by the Board of Control for Cricket in India (BCCI).

What is the difference between IPL salary and BCCI contract fee for cricket players?

IPL salary refers to the payment players receive for participating in the Indian Premier League, while the BCCI contract outlines the terms of employment for players under the Board of Control for Cricket in India.

February 28, 2025

How IPL Teams Earn Money

The latest edition of the Indian Premier League (IPL) is here now in 2025, and naturally, we are in the midst of the cricket frenzy with players set in action, the religious fans of the game all thrilled and waiting for their favorite matches, and the franchise owners and other businessmen anticipating great returns out of it. The Twenty20 Cricket League allows the best cricket players around the world and gives them a chance to showcase their talent. The key business plan of the IPL is to invite private companies to buy cricket franchises.

The franchises are sold at huge prices, so the corporates are largely attracted to invest in various other major components of IPL. Regarding the Indian Premier League auctions, teams spend crores of rupees just to get the desired players. With the kind of money involved in the league, it is hard to ignore the financial aspects of the game. In terms of the valuation, the IPL business value was calculated to be $16.4 billion as of 2024 and the stand-alone IPL brand value stands at $3.4 billion as of 2024.

According to BCCI, the 2023 IPL season contributed $11.2 billion to the GDP of the Indian Economy. The viewership of IPL 2024 reached the 620 million viewer mark and was watched by more than 350 billion minutes, which is much higher than the total watch time of IPL 2020. Therefore, IPL is as much about business as it is about cricket, glitz, and showbiz. Here are the right prominent ways to answer how IPL franchise earn money.

Impact of IPL on Indian Economy

1. Media Rights
2. Ticket Sales/Gate Revenue
3. Merchandising
4. Selling stake
5. Sponsorship
6. Prize Money
7. Brand Value
8. Unlisted Shares
9. Investments in IPL
10. OTT Platforms
11. Franchise Rights

1. Media Rights

The official media sponsor of the IPL for the last decade was Sony India, and then Dream 11. The current title sponsor of IPL is TATA Group. Disney+Hotstar is declared as the official broadcaster of IPL 2022, which has further onboarded new sponsors, Zomato, Pristyn Care, Ather Energy, Parle Agro, Livspace, Niyo, Spotify, L’Oreal, Spinny, ahead of the cricketing extravaganza.

IPL is known for its revenue distribution model. The BCCI gets a substantial amount from broadcasters and online streamers. Based on IPL franchises to earn money, and IPL team ranking, this amount is distributed among all IPL teams after deducting their fees.

Media rights are another way how franchises earn money in IPL. They are the IPL brand’s biggest financial contributors. Star India reportedly broke the bank in 2023 to buy IPL broadcasting rights for a massive INR 23,575 crores. Each match of the IPL reportedly helps BCCI make INR 60.18 crores, while the latest bid in the BCCI media rights auction stands at INR 23,758 crores, which amounts to INR 59.10 crores per match.

The broadcasters can afford such exorbitant prices because of the advertising and viewership revenues. At the end of the league, the higher-ranking team gets the larger share of media revenue. Media rights account for 60 to 70% of the total earnings of the IPL team, through which IPL team members earn money. Besides that, the IPL franchises also make money by broadcasting special shows such as KKR’s Knight Club.

Top 15 Highest Paid Players in IPL History

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2. Ticket Sales/Gate Revenue

The revenue generated from the sale of tickets for matches forms another major source of income for the owners of IPL teams. Each franchise is entitled to a minimum of 7 home matches, which gives them a fair opportunity to generate money. The ticket revenue share in the IPL team revenue is around 10%. The home team gets a fixed share of the total ticket sales, and all IPL team owners earn money by selling tickets.

The franchises then have complete rights to the income from gate tickets and passes. Like any other major sports event, the IPL teams depend largely on their fans for revenue. It is one of the most watched leagues worldwide, with full houses on most occasions. This is one of the few mediums of income where fans and franchises are directly involved in the financial transaction and through which IPL team earn money.

IPL Advertisement

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3. Merchandising

How do IPL Teams Make Money – Merchandising

The revenue received from sales of official IPL merchandise also forms a significant part of income for IPL teams. The IPL merchandise includes official jersey replicas, sports souvenirs, and sports equipment, among other things. Merchandising is a huge opportunity for IPL and the franchisees to monetize their brand, and IPL has started replicating the global sporting events.

This trend is expected to change, with more IPL franchises now moving towards elevated merchandise promotion. The game merchandise market in India is growing at an annual rate of 100 percent. This market is about 30 million dollars. Every franchisee sells its merchandise; this includes T-shirts, caps, bats, wristwatches, and other items. Therefore, merchandising is a significant source for IPL franchise to earn money.

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4. Selling Stake

The IPL franchises can make big gains by selling stakes at the right time. For example, Delhi Capitals, formerly the Delhi Daredevils case. Jindal Steel Works brought a 50% stake in the IPL franchise for a hefty price of INR 550 crore from GMR. The group has expressed its desire to increase its share in the franchise from 50 to 100%.

So, within a decade, GMR almost doubled its investment in the franchise. Recently, there were intense rumors that the owners of Rajasthan Royals wanted to go by the same route and sell 50% of their stakes in the franchise. Although such big deals don’t happen deals every day, selling stakes is surely one of the major routes to making money for IPL franchises. This is one of the prominent ways through which the IPL team owner make money.

5. Sponsorship

IPL Sponsorships – How IPL Franchises Make Money

Everything within the stadium has a price tag, from players batting to the bails on the stamps. The sponsors are the real source of income in the Indian Premium League. All the teams of IPL have sponsors for everything: the main sponsor, a jersey sponsor, and even a sleeve sponsor, which hugely contributes to the overall income. The teams tie up with organizations to promote brands in return for an exorbitant amount.

The promotion is done in two forms: through print media and through advertorials. The player’s jerseys are a valuable marketing tool. This is why an IPL outfit has an average of 10 brand logos: 6 on the jerseys, 2 on the pants, and another couple on the cap. Moreover, the franchises also create ad content to promote the brands’ products.

While the brands that cannot make on the jerseys are still promoted through the teams’ social media handles and package design, for example, CSK has tied up with at least 18 brands, with Etihad Airways being the title sponsor.

Fees of IPL Title Sponsors Over the Years

IPL title sponsor fees are crucial for BCCI and the companies involved, impacting revenue with franchises. Here is the IPL title sponsors list.

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6. Prize Money

Prize money is obviously one of the franchise’s main income sources. The tournament’s winning team gets the largest share of the prize money, which goes to the team owners and the players. In 2023, the winners got INR 20 crores, the runner-up got INR 13 crores, the third place in the playoffs was INR 7 crores, while the fourth place in the playoffs got INR 6.5 crores.

7. Brand Value

Most Valuable IPL Teams in 2023

Brand value adds a lot to the team. If you have star players like Virat Kohli and MS Dhoni or even Rohit Sharma in your team, you have a better chance of attracting brands and investors. Winning IPL or even making it to the Playoffs helps IPL franchises to boost their brand values. This, in turn, helps in easily getting brands on board – at prices that the owners demand. Note that MI, CSK, and KKR, all of whom have won IPL more than once, are at the top of the brand value.

So, the clout that teams like CSK and MI enjoy during negotiations with brands may not necessarily be experienced by DC and KXIP. However, it is important to know that Brand Value is not only affected by a team’s past performances. Bollywood stars like Shah Rukh Khan and Preity Zinta also add a lot to that aspect, along with business leaders like Keshav Bansal and Neeta Ambani.

8. Unlisted Shares

It is worth noting that while it is a new phenomenon for Indian sports franchises, numerous European football franchises have been offering their pre-IPO stocks in cricket fans’ lives for a while now. In India, Chennai Super Kings is among the select few sports franchises whose unlisted shares can be traded. These franchises have been able to generate a considerable amount of capital through their pre-IPO stocks, which has proven to be a valuable source of funding for them.

9. Investments in IPL

Saudi Arabia shared plans to invest up to $5 billion in the IPL in 2023. The league is also attracting a lot of interest from American investors who are putting big money into it, making the IPL one of the most profitable sports ventures. According to the Financial Times, US companies like Silver Lake Partners, KKR & Co., and TPG Capital have invested over $3.2 billion in the IPL.

US investors are drawn to the IPL because of its huge popularity and its potential to grow even more. The IPL isn’t just a well-loved sporting event; it also has a big impact on India’s economy.

10. OTT Platforms

Viacom18, the company that owns Jio Cinemas, won the OTT rights for IPL from 2023 to 2027. They bid INR 23,758 crore just for the digital streaming rights! Altogether, the total revenue from IPL media rights for 2023-2027 came to around INR 48,390 crore. This includes INR 23,575 crore for TV rights and INR 23,758 crore for digital rights. This is more than twice the amount earned in the previous period!

11. Franchise Rights

IPL teams earn from franchise rights by getting a share of the central revenue pool, signing local sponsorships, and selling team merchandise like jerseys and caps. Some teams organize international matches, invest in cricket academies, and monetize digital content through ads and brand collaborations. This helps them earn even outside the IPL season.

All Sponsors of Indian Premier League 2025 | Official Partners & Brand Collaborations

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Conclusion

Indian Premier League(IPL) is a money-making business and festival for cricket fans worldwide. Cricket fans around the world travel across seven countries and seven continents to watch IPL in India. All credit goes to the cricket league as it has created a bigger impact on cricket fans’ lives. It’s a money-making league where the money is generated from all sources. The money is generated from advertisements, sponsors, stadium tickets, merchandise, TV, and media.

FAQs

What is the brand value of IPL 2024?

The IPL business value was calculated to be $16.4 billion as of 2024 and the stand-alone IPL brand value stands at $3.4 billion as of 2024.

How IPL team owners earn money?

IPL team owners earn money primarily through sponsorships, broadcasting rights, ticket sales, merchandise, and team merchandise. They also generate revenue from franchise fees paid by team owners and endorsements.

What is IPL merchandise?

The IPL merchandise includes IPL and team t-shirts, key rings, jerseys, polo t-shirts, mobile covers, chargers, caps, joggers, coasters, wristbands and more.

What is the IPL business model?

The IPL business model revolves around acquiring players and teams, advertising, merchandising, sponsorship, fantasy gaming, and more. The IPL business model’s core is inviting private firms and businesses to own franchises.

Which is the oldest IPL team?

MS Dhoni-led Chennai Super Kings (CSK) had the oldest players in their team, while Rajasthan Royals (RR) had the youngest team playing in the IPL 2021 according to the average age of the players in the squad.

Which is the No.1 successful team in IPL?

MI and CSK are the most successful teams in the league’s history, with 5 IPL titles.

What is IPL team owner income per match?

IPL teams can earn between INR 3–5 crores per match from ticket sales. The home team receives 80% of the ticket sales, while the state cricket board receives the remaining 20%.

How much IPL winning team owners make money?

The IPL offers the highest prize money: INR 20 crore for the winning team and INR 12.5 crore for the runner-up.

How IPL teams earn money?

IPL teams earn money in the following ways:

1. Media Rights
2. Ticket Sales/Gate Revenue
3. Merchandising
4. Selling stake
5. Sponsorship
6. Prize Money
7. Brand Value
8. Unlisted Shares
9. Investments in IPL
10. OTT Platforms
11. Franchise Rights

How do IPL franchises make money?

IPL franchises make money through multiple streams, including broadcast revenue from media rights, sponsorships from brand partnerships, and ticket sales from home matches. They also earn from merchandise sales, prize money based on performance, and player trading. Additionally, income comes from local sponsorships, digital content on platforms like YouTube, and investments in global leagues and regional events. These diverse revenue sources ensure IPL franchises remain profitable.

February 5, 2025
BCCI May Petition NCLT to Have Byju’s Bankruptcy Proceedings Withdrawn

According to media sources, the Board of Control for Cricket in India (BCCI) is expected to petition the National Company Law Tribunal (NCLT), located in Bengaluru, to have its bankruptcy claim against the ed-tech company Byju’s withdrawn.

It may follow the Supreme Court’s decision last month to overturn the National Company Law Appellate Tribunal’s (NCLAT) October 23 verdict authorising a INR 158 crore settlement between Byju’s (Think and Learn Pvt Ltd) and the BCCI.

The NCLAT’s previous decision, which had stopped Byju’s insolvency procedures after its agreement with the BCCI, is overturned by this ruling. The Supreme Court incorrectly approved the settlement after concluding that the NCLAT had not followed the procedural guidelines set down in the Insolvency and Bankruptcy Code (IBC). The INR 158 crore that the BCCI had placed in an escrow account will now be moved to an escrow account run by the Committee of Creditors (CoC) as a result of this ruling.

Supreme Court’s Further Instructions

According to reports, the court rebuked the NCLAT for ending the Corporate Insolvency Resolution Process (CIRP) too soon. The court further explained that any withdrawal request must be submitted via the Interim Resolution Professional (IRP) rather than by the parties themselves.

According to reports, Byju’s US lenders have demanded that the Committee of Creditors be reorganised and that the IRP assigned to Byju’s be removed. Arguments in this matter are anticipated to be heard by the NCLT on November 18.

Byju Raveendran, the founder of the struggling education technology business Byju’s, declared last month that the once-highest valued startup in India now has no value and that the former empire should be rebuilt from the ground up, brick by brick.

Downfall of Byju’s

Byju’s was valued at $22 billion in 2022, but its fortunes have declined because of a severe financial shortage, regulatory problems, and investor disagreements. One such dispute involved a fight with US bankers for $1 billion in outstanding debts, which ultimately led to the company’s insolvency.

“To be successful, I simply need to see a 1% likelihood. The outcome of the court order doesn’t worry me. No matter what, I’ll find a way out.” Raveendran recently informed the media from his home in Dubai that there is no problem in the world that cannot be solved.

Current Market Dynamics of Edtech Startups in India

In the last year, over a dozen Indian edtech startups have been bought out, highlighting a difficult funding environment for smaller businesses and causing a wave of consolidation throughout the troubled sector.

The list of recent deals includes the acquisition of test prep company Ekagrata Eduserv by Google-backed edtech startup Adda247, the acquisition of Housing.com cofounder Advitiya Sharma’s startup Genius Teacher by Noida-based Schoolnet, the acquisition of Doubtnut by Peak XV-backed Allen Career Institute, and the acquisition of Macmillan Learning India by mid-tier IT services company Happiest Minds. According to industry leaders, the fact that smaller businesses frequently provide distinctive offerings and specialise in specialised fields is what is driving the consolidation.

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November 13, 2024
SC Questions NCLAT Ruling on Approving Byju’s INR 158.9 Crore BCCI Settlements

On 25 September 2024, the Supreme Court questioned Byju’s choice to pay off the Board of Control for Cricket in India (BCCI) for INR 158 crore, while leaving behind significant amounts owed to other creditors, such as US lender Glas Trust Co LLC, totaling INR 15,000 crore.

Chief Justice DY Chandrachud headed a bench that questioned why BCCI was the only organization chosen to pay off its debts. But what about other people? Can a creditor simply walk away and claim that a single promoter is prepared to pay them when the amount of the debt is so substantial? Was it derived from your assets? The CJI stated, “You have a debt of INR 15,000 crore today.”

The trustee for lenders owing $1.2 billion, GLAS Trust, is appealing the settlement reached between the Edutech company and BCCI, claiming that the funds paid by Byju Raveendran’s brother Riju Ravindran were tainted. The top court is currently considering these arguments.

The NCLAT’s order, which had authorized an INR 158.9 crore dues settlement deal between the BCCI and Think & Learn Pvt Ltd, the parent firm of BYJU’s, an Edutech major, was stayed by the bench last month.

BCCI Raising Concerns Over NCLAT’s Order

The National Company Law Appellate Tribunal’s ruling to set aside the July 16 judgment that started Think & Learn’s insolvency procedures was questioned by the top court as well, even though the decision was made in only one paragraph and without “applying its mind at all.” Examine the logic in the NCLAT sequence. It is merely a paragraph. This demonstrates absolutely no application of the mind. The CJI added, “Let the tribunal apply its mind once more and see where the money is coming from.”

Speaking on behalf of the BCCI, Solicitor General Tushar Mehta pleaded with the top court to take into account the ramifications if the appeal (of Glas Trust) is granted and to refrain from overturning the NCLAT’s decision. In support of Glas Trust, senior attorney Shyam Divan argued that the NCLAT had incorrectly approved the settlement despite clear objections that the settlement’s funding source was questionable. This was done by relying solely on a vague commitment provided by Riju Ravindran. NK Kaul and AM Singhvi, Byjus’ senior counsel, opposed the Glas Trust’s appeal and its actions, which included allegations that Byju and Riju Raveendran were absconding.

Byju’s Legal Trouble

Byju Raveendran, the founder of Byju’s, is involved in multiple legal proceedings. These include a payment dispute of INR 158 crore with the Indian cricket board and a dispute involving a $1.2 billion term loan with US lenders. Their problems are made worse by the fact that the Enforcement Directorate of India is looking into claims of INR 9,362.35 crore in Foreign Exchange Management Act violations.

BYJU’S Faces Legal Challenges: BCCI’s Insolvency Petition Accepted by NCLT

Explore the latest developments as the country’s education tech giant BYJU’s encounters significant financial and legal issues.

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September 30, 2024
The Supreme Court Has Temporarily Halted the Appeals Tribunal’s Decision Over the BYJU’S-BCCI Settlement

On Wednesday, the Supreme Court issued a stay of the NCLAT ruling that had set aside the insolvency proceedings against the ed-tech major. This effectively enabled Byju Raveendran, the owner of the company, to regain control of the business.

The ruling of the NCLAT that approved the settlement of Byju’s dues with the BCCI amounts to INR 158.9 crore, but the highest court has placed that verdict on hold. This decision has put a strong blow on Byju’s.

The order was issued in response to a pleading by Glas Trust Company LLC, a creditor situated in the United States, against the verdict of the NCLAT. Glas Trust Company LLC asserts that they are owed one billion dollars by Byju’s.

Additionally, a panel that was led by Chief Justice DY Chandrachud ordered the Board of Control for Cricket in India (BCCI) to maintain a separate account for the INR 158.9 crore that it had received from Byju’s as a result of a settlement.

Insolvency proceedings against BYJU’S were halted on August 2 after the National Company Law Appellate Tribunal (NCLAT) gave its approval to the settlement of INR 158.9 crore in dues with the BCCI.

How This Decision Can Bring More Trouble for BYJU’S

Following the decision of the Supreme Court, the insolvency proceedings against BYJU’S will resume. This will result in the ed-tech major, which was previously valued at USD 22 Billion, being placed under the control of an insolvency administrator chosen by the court.

At the beginning of this month, Byju Raveendran was able to restore control of the company after the National Company Law Appellate Tribunal (NCLAT) dismissed the insolvency procedures that were being brought against the startup.

The cricket regulating body of India filed a complaint, stating that the company had not been paid its sponsorship dues, which resulted in the company being placed in the process of going bankrupt. After some time, the two parties reached a settlement on the issue, and an appeals tribunal put a stop to the insolvency procedures.

Why BYJU’S Is Going Through a Financial Crunch?

The fast growth and forceful strategy of acquisitions employed by BYJU’S have put a heavy burden on its financial resources. Many are worried about the company’s long-term viability because of its substantial need for outside finance, despite the fact that it has raised billions in cash.

Despite the initial boost to online education caused by the COVID-19 pandemic, the market became saturated, which affected Byju’s growth trajectory.

Misleading advertising, unauthorised charges, and trouble getting your money back are just a few of the customer service issues that have plagued Byju’s. Not only have these problems damaged the company’s image, but they have also prompted lawsuits.

Members of the Enforcement Directorate and the Ministry of Corporate Affairs (MCA) are among the regulatory agencies that are constantly monitoring the operations of the company.

Investigations have been initiated due to allegations of financial irregularities, such as disparities in revenue recognition and possible violations of the Foreign Exchange Management Act (FEMA).

At the heart of both the company’s success and its present problems has been Byju Raveendran, founder and CEO of Byju’s. Now that stakeholders and investors are demanding answers about the company’s performance, his leadership is under scrutiny.

BYJU’S Faces Legal Challenges: BCCI’s Insolvency Petition Accepted by NCLT

Explore the latest developments as the country’s education tech giant BYJU’s encounters significant financial and legal issues.

StartupTalkyNitin Konde

August 14, 2024
BYJU’S Faces Legal Challenges: BCCI’s Insolvency Petition Accepted by NCLT

The edtech company BYJU’S expressed optimism that it and the Board of Control for Cricket in India (BCCI) may come to a mutually agreeable resolution after the latter filed a petition to initiate insolvency proceedings due to unpaid dues. Recently, the National Company Law Tribunal (NCLT) Bengaluru court accepted BCCI’s arguments in opposition to BYJU’S.

Our goal has always been to resolve the matter amicably with BCCI, and we remain optimistic that this ruling will not derail our efforts.” Meanwhile, a representative from BYJU’S stated that their legal team is now examining the order and would proceed with the appropriate measures to safeguard the company’s interests.

In October of last year, BCCI filed the plea in response to INR 158 crore in overdue payments. The Indian cricket squad was sponsored by BYJU’S under an agreement with the BCCI. A subsequent hearing was scheduled for November 15th, last year.

The NCLT acknowledged the plea and stated that it is indisputable that BYJU’S parent company, Think & Learn Private Limited, had used the BCCI’s services but had not paid.

BYJU’S Multiple Bankruptcy Cases

BYJU’S is currently involved in several bankruptcy lawsuits, both domestic and international, including the one initiated by the BCCI. The decision said that the Corporate Debtor (Think & Learn) admitted in these emails that they owed money and that default had already happened due to numerous requests for extensions of time.

The ruling permitting bankruptcy proceedings against Think & Learn imposes certain restrictions, including a 180-day embargo on the sale, transfer, or disposal of any of the company’s assets.

IBC Procedure

If a business files for bankruptcy protection under the Insolvency and Bankruptcy Code (IBC), its creditors will gain control. While BYJU’s is amid the Corporate Insolvency Resolution Process (CIRP), all of its debts, including interest, will be frozen, and the transfer of any of its assets will be impossible. IBC also forbids the continuation of pending lawsuits against BYJU’S.

Within one week of receiving the NCLT bench’s order, Pankaj Srivastava must provide written permission for his appointment as Interim Resolution Professional (IRP). As per Section 17 of the IBC Act, 2016, if Srivastava’s nomination is confirmed, he will have complete control over the management of Think & Learn’s operations. The company’s board of directors would also be suspended. The bench of the NCLT issued an order directing the IRP to form a Committee of Creditors within 30 days of his appointment, after the compilation of all claims received against Think & Learn.

At the same time, in the fiscal year of 2024, tech investor Prosus spun off its 9.6% ownership in BYJU’S.

Peak XV Partners, General Atlantic, and Prosus are among the investors that have launched an “oppression and mismanagement” lawsuit against BYJU’S.

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Impact of IPL on Indian Economy

There are over a billion cricket fans in the world and 90% are Indians. Whoa!

With that kind of following, one can’t complain that cricket is called a religion by millions in India. But guess what, there’s a bigger religion with the biggest fan following in the world – money, moolah or currency!

Apparently, BCCI (the richest cricket body in the world) fancied this in time, founded the commercial format of the game in the form of Indian Premier League (IPL) in 2007 and IPL became cricket’s most glitzy, glamorous festival. Add to that, its association with the entertainment business and corporates is something that added more fuel to the cricketing carnival. Today, this sporting event moves and shakes the economy beyond words.

IPL – Finest avatar of cricket?
The real game
Lets get back to serious business
BCCI, franchises or players – the bigger beneficiary?
What does the government get?
Okay, but how does IPL affect your and my economy
An uncomfortable fact
Lets team up this season – on and off the field

IPL – Finest avatar of cricket?

We are a religious nation but also a secular one. So, while some of you will devote yourselves to your favorite deity (player/team), the not-so-religious ones can keep up their excitement by following IPL’s money trail, or in other words, the direct/indirect impact IPL has on our economy. It is no less interesting than the matches themselves. Follow through the end to know-how.

A little flashback first – The Indian Premier League aka IPL cricket championship began in 2008. It has a ’20-over’ format, hence called Twenty20 (T20) tournament. Currently, it has already passed the 14th season in 2021, which concluded with Chennai Super Kings, who took the 14th IPL winner award, as the 4th title home. The IPL tournament constitutes eight teams, where each team is set to play two games with each of the other competing teams, totaling 60 matches over a month and a half.

Basically, this professional sports league has been conceptualised on the lines of the famous UK/American leagues such as the English Premier League, NBA, MLB, NFL et al. The frenzy behind is no less.

Now let’s talk numbers because what is cricket without it. Hang on, we are not going to discuss cricket scores or static stats like run rates, most centuries, or ducks that are overdone anyhow, but instead lay out some dynamic economic data.

● IPL brand value: $4.7 billion, which has noted a 7% rise, as per the February 2022 reports.

● The highest source of income: Media rights, which make up for 60% of its revenues.

● Team with the highest brand value: Mumbai Indians (MI), the value of which has increased by 13% to become $79.5 million.

The real game

Can you guess how many Pani-puris or Pizzas are sold during a match? No idea? Okay, what kind of creative lies do men invent to skip how many productive work hours to watch a match? Can’t say? Fine, at least how many memes, jokes and posts are created during IPL? Duh! Are you even serious?

Alright, the cricket craze hasn’t stumped us that bad. We were only checking your entertainment quotient. After all, it’s the fun persona of cricket branded as IPL, that we will talk about.

Yeah, so let’s show you some real economic figures. From 100s of crores poured in annual auction of players or million and billion dollar deals signed amongst BCCI, sponsors, global media houses, advertisers, etc., not to mention the heavy business activities that take place during and around an IPL championship. Money just flows across various sectors for this Kumbh of cricket. This results in a solid boost in the finances of not only the players, the BCCI, the mammoth size corporations, but also of the government as well as the nation.

(Well, we won’t disappoint you in any way, so check out the best few memes/ jokes/ tweets on IPL towards the end)

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Lets get back to serious business

We like the American yardstick a bit too much. So, here’s a comparison of the salaries of our players with top US league players.

Average annual player salary in the sports industry

Wow! IPL is second on the list, right under NBA (National Basketball Association). However, we already knew that our cricket/IPL players are awarded pretty handsomely.

Although cricket falls too low in popularity among other global sports like football, basketball, baseball, hockey, etc, but hey, as promised we are only talking about the economics of the game and there we don’t fall too behind.

BCCI, franchises or players – the bigger beneficiary?

BCCI earned INR 4,000 crores from IPL 2020, according to its treasurer. This means every cricket fan contributed 40 rupees. Actually! So, be proud, because you’re not just a passive viewer but an active participant in the economy. Need further proof? Well, the TV and media rights of IPL has been sold for a massive 2.3 billion dollars approximately (INR 16k+ crores) to Star Network.

Here are a few more fantastic figures vis-a-vis IPLs that you can use to tickle your imagination or just revel in delight while you enjoy a match.

● Title sponsorship – Tata Group has replaced the Chinese phone maker Vivo as title sponsors for the 2022 and 2023 seasons of the cricketing phenomenon. Vivo was reportedly booked earlier as title sponsors for the period of 2021-2023, which is why Tata will remain the main sponsor with Vivo next in line, with 2 remaining years of contract with them still.

● Media rights – While we have seen BCCI selling the media rights to Star Sports for INR 16,347.5 crore for the global broadcasting rights i.e. TV & digital for 5 yrs (2018-2022), the cricketing body is now mulling over the expansion of broadcasters where the others will also share the rights in 2022. The deal value for the media rights in the previous installment of IPL is 1.5X from that of the year before. Well, this leap of faith is backed by guaranteed advertising revenues these media giants get. By the way, IPL 2021 ad revenue was calculated at INR 2,950 crores, only in TV advertising.

● Ticket sales – Nil for 2020 as well as 2021 as both seasons were held behind closed doors due to COVID19. Nonetheless, on-air sponsors have multiplied every year and thus the money came pouring from them. Over 10 sponsors, big and small, strike multi-crore deals with each franchise. The rising digital viewership is certainly set to more than offset that loss. However, the IPL 2022 matches are estimated to have a seating capacity of 25%, and the ticket sales have already started going live from 12 pm on March 23, 2022.

● Sports/cricket tourism – 100% loss again! This is one sector that has suffered immensely and globally since the onset of the coronavirus pandemic. So, one can’t really factor it in here. However, with growing relaxation of the pandemic-induced rules, we might see some tourism in 2022.

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What does the government get?

No one said that religion was just about finding God? It is also about deity worship, rituals, festivals, and much more. Take a hint from it and admit that cricket too isn’t just about fitness and health anymore. It is also about entertainment, business & fun. The government of the day realised it and brought IPL’s income under the tax net.

Income means taxes and taxes mean revenue for the govt. Did you know BCCI was considered a charitable organisation under the IT act, thus, paid zero taxes? Govt took away that privilege in 2012 from BCCI & declared IPL as a commercial activity hence taxable. Although BCCI hasn’t accepted it to date.

Whilst fist-fighting with the Govt on this issue in the background, BCCI has paid little over INR 460 cr to settle tax dues (of an earlier assessment year) in September 2019. However, with 400 million viewers and 400 billion viewing minutes recorded last season, perhaps it’ll have to pay up the balance dues which is close to INR 1300 cr. After all, taxes are a necessary evil.

Okay, but how does IPL affect your and my economy

Good question but a little premature. Happy to explain because that’ll affect my bank balance or say the economy positively. See! That’s how the economy in essence works. There are no free lunches. Likewise, when those big brands like Royal Stag, Flipkart, Vivo, Jio appear on your screen in the middle of an exciting match, you may not like it much but the brands have knowingly or unknowingly made an impression on your mind. With repeated such displays, you tend to remember the brand name for a long. That’s how they increase their customer base. Boom! The brand sales might hit the roof and you may think that you just bought one beer to cheer.

What about the sponsors whose names show on your fav player’s (deity) jersey/cap/bat or placed on the field and other conspicuous places? They get the desired visibility and attention for their brand.

It is not just these purchases and just the sponsor companies that benefit from the IPL excitement. Other businesses and sectors also gain from the festive mood revolving around the religious sport of India, cricket, and cheer too. This is because economic activities always have a ripple effect. For instance, if you are a YouTuber, create content around cricket/IPL & cash it on. If you are an SM marketer, an influencer creates that perfect meme that goes viral faster than any known virus to mankind.

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That reminds us of the promise to present the best/funniest memes, jokes on IPL. Here –

Because RCB (Royal Challengers Bangalore) hasn’t won a single tournament in 13 yrs. Cruel world!

Yeah, I know my teams! This one is for hardcore cricket fans.

Maxwell was picked up by RCB for a magnificent INR 14.25 cr in spite of average performance in 2020. Cool eh?

Chris Morris went under the hammer for INR 16.25 cr which is the highest IPL buy so far. Cricket is all about breaking records, right!

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An uncomfortable fact

Religion isn’t just about finding God; it is about deity worship, rituals, festivals and so much more. Take a hint from it and admit that cricket too isn’t just about fitness and health. It is also about entertainment, business, and fun.

Let’s dig a little deeper. Sometimes religion pushes its followers into fanaticism and fascism. Cricket too has its dark side. Nah, not talking about betting rackets here. Check out this tweet.

This is just to leave you with an afterthought.

Lets team up this season – on and off the field

Cricket is inherently a sport. And a sport is packed with emotions. So without the energy of a live audience cheering for the teams…emotions run dry. We can’t be emotionally stuck in the pre-COVID era either or reject changing realities of our times. So how do we keep up the enthusiasm? By consuming some great content, like this one? Let us know what you think! Because we passionately & constantly work to score more & more points from our readers.

Conclusion

To end on a lighter note – ‘Stay home, stay safe’ was and is the mantra of the pandemic age, and if you choose otherwise, then take adequate precautions while going out and remaining outdoors. ‘You could cheer for Dhoni or AB de Villiers, so long as you stay fit until next year!’ may be your mantra for IPL 2022, which is starting on March 26, 2022. So, let’s have a field day!

FAQs

Is IPL good for Indian economy?

The IPL teams earn revenue through their sponsors and the sale of merchandise of their kits and garbs. To sum it all up, IPL has an impact on the Indian economy as it produces numerous employment opportunities.

How much does IPL contribute to Indian economy?

The brand value of the IPL in 2019 was $6.7 billion, as per the Duff & Phelps report. According to BCCI, the 2015 IPL season contributed ₹11.5 billion (US$160 million) to the GDP of the Indian economy.

How much is IPL worth?

The brand value of the IPL, as per the reports dated February 2022, is $4.7 billion, which witnessed a 7% increase lately.

When is the IPL 2022 starting?

IPL 2022 is starting from March 26, 2022, as per the reports.

When will IPL 2022 end?

IPL 2022 will be ending on May 29, 2022, as per the reports.

March 23, 2022
List of Brands Endorsed By Ravichandran Ashwin

Cricketers are increasingly becoming a popular choice for brand ambassadors in India. This is because cricketers are more than players on the field, as they are admired and respected by consumers from all walks of life. Ravichandran Ashwin is one Indian all-rounder cricketer that is becoming popular in the endorsement world. The cricketer plays for the state of Tamil Nadu in the domestic cricket and currently the Delhi Capitals in the IPL.

Ravichandran Ashwin is known to bat right-handed and bowl right arm off break and has so far played in all forms of cricket including Indian Premier League (IPL), One Day International (ODI), Test cricket, Twenty20 International. Ravichandran Ashwin has the record of being the fastest Indian bowler to reach 50, 100, 150, 200, 250, 300, 350 and 400 wicket marks in Test Cricket with regard to the number of innings.

The cricketer become the third Indian to win the ICC Cricketer of the year award as he is presently the highest ranked spinner in test cricket according to the ICC player rankings. He has won man of the series over 8 times which is the highest by an Indian cricketer. Ravichandran Ashwin was not that known when he debuted in the first-class cricket for Tamil Nadu in 2006.

It wasn’t until 2010, that his performance for Chennai Super Kings in IPL got him the media attention he deserved. He got his first international call for the 2010 Champions League Twenty20 in South Africa where he became the player of the tournament. Over the years, he kept breaking records to become the fastest bowler and is also the only bowler in recent times to bowl a carrom ball.

After five centuries in his test career, Ravichandran Ashwin earned the reputation of being an all-rounder and was awarded the Arjuna Award in 2014. He also won awards such as BCCI’s international cricketer of the year for 2013 season and ICC Cricketer of the Year in 2016. The net worth of Ravichandran Ashwin is estimated to be $20.5 million as of 2021. While the cricketer is known to charge Rs 20 to Rs 30 lakh per brand endorsement.

Some of the brands endorsed by Ravichandran Ashwin are Manna Foods, Aristocrat bags, Oppo, Moov, Redmi, Specsmakers, Ramraj Linen Shirts, Myntra

Moov
Myntra
Manna Health Mix
Bombay Shaving Company
Specsmakers
Ramraj Linen Shirts
Oppo
Aristocrat’s bags
Frequently Asked Questions

Here are the list of brands endorsed by Ravichandran Ashwin

Moov

Moov is one of the top Pain relief Spray and ointment brand in India known for providing pain relief especially amongst homemakers. Moov was initially launched in 1986 and is a subsidiary of Reckitt Benckiser Group plc which is a leading British multinational consumer goods company that produces health, hygiene and home products. Moov is an analgesic or pain relief ointment/spray that made using ayurvedic ingredients.

The product is a First aid friendly cream that aims in providing fast and long-lasting relief from body pain and is available in ointment and spray form. Reckitt Benckiser Group also known brands like Dettol, Durex, Airwick, Scholl, Nurofen, Vanish, Harpic and Lysol. Moov signed Ravichandran Ashwin as its brand ambassador in 2016. In the ad the cricketer can be seen using the Moov spray to reduce his back pain and play well on the field.

Myntra

Myntra is a leading Fashion e-commerce company that has its headquarters based in Bengaluru, Karnataka. The company was founded in 2007 by Mukesh Bansal and was then acquired by Flipkart in 2014. The company initially started out by selling personalized gift items like as T-shirts, mugs, mouse pads, etc but stopped personalizing items and started selling fashion and lifestyle products in 2011.

By 2014, the company portfolio contained over 1,50,000 products from 100 different 1000 brands. In 2016, Myntra signed over 25 celebrities from various fields including Bollywood, sports and television to endorse the end of reason sale that takes place every year. In the ad, Ravichandran Ashwin can be seen buying products for him and his family members during the Myntra sale.

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Manna Health Mix

Manna is upcoming brand that manufactures a wide range of health mixes and other healthy food products that are made especially for patients suffering from diabetes and some lifestyle ailments. The Manna Health Mix is a traditional Indian blend of 14 cereals and pulses that can be eaten as a nutritious breakfast for the entire family.

The company was founded in 2000 and has its headquarters based in Chennai, Tamil Nadu. The product portfolio includes traditional millet-based breakfast cereals, supplements for milk, a variety of food for babies, dried fruits and other everyday food products that are 100% natural and gluten free.

Manna foods signed Ravichandran Ashwin as its global brand ambassador in 2016, the cricketer is the face of the brand as he has been featured in its ad campaigns. Isak Nazar the Managing director of Manna Food said that, as a home grown brand built with traditional values and ethics, and choose Ravichandran Ashwin as the brand ambassador because he represented the underlying brand values of the company.

Bombay Shaving Company

Bombay Shaving Company is a consumer good brand that provides men’s and women’s grooming products for hair, beard, mustache, skin, and face. In 2017, the company was known to have more than 12,000 customers and has received funding of over $17.7 million so far. The company was founded by Shantanu Deshpande and has its headquarters based in New Delhi.

Bombay Shaving Company focuses on developing a range of shave care, beard care, and skincare products which its at the top most quality and has currently expanded to 18 different channels. Bombay Shaving Company signed Ravichandran Ashwin as its brand ambassador in 2021.

The all-round cricketer has been featured in the multichannel campaign known as ‘Shave to Shine’. The ad follows Ashwin going through difficult situations in his life and career and how shaving makes him more confident. He also talks about how the company’s products like shaving foams and metal razors have successfully helped him shine like a star.

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Specsmakers

Specsmakers is one of the fastest growing eyewear retailers in South India that offers a huge range of fashionable eyewear with high quality and affordable prices. The company currently operates in more than 250 retail locations and aims in providing the most advanced, comfortable, latest eyewear. Specmakers was founded in 2011 has so far raised over Rs 64 crore in funds.

The company signed Ravichandran Ashwin as its brand ambassador in 2016 and the Indian spinner has since then been the face of the brand and has appeared in many of its ad campaigns. The ad showcases the cricketer talking about his family’s choices when it comes to buying eyewear in the Specsmaker’s store.

Ramraj Linen Shirts

Ramraj Cotton is an old clothing brand that was founded in 1983 by K.R.Nagarajan and is a pioneer in manufacturing Dhotis. Besides traditional wear the company also makes Shirts, Inner Wears, Knit Wears, fabrics, Kids and Women’s Collection. The company is currently is located in Tirupur, which is the main city for the Indian knit garment industry.

The company signed Ravichandran Ashwin as the brand ambassador of the clothing brand, which is Ramraj Linen Shirts in 2014. With Ashwin as the face of the brand that company aimed on popularizing its then new line of white shirts and changing its target audience of 30 to 35 year old to the next generation.

The ad campaign also helped the Southern brand enter the North market. According to Ravichandran Ashwin, the association with the company will be a learning experience about doing business.

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Oppo

Oppo is a Chinese consumer electronics company known for being the worlds leading smart device manufacturers and innovators. The company has its headquarters based in Guangdong, China and was initially launched in 2004. Oppo makes products such as smartphones, smart devices, audio devices, power banks, among other electronic products and is available in more than 40 countries worldwide.

As of 2016, Oppo went on to become the largest smartphone manufacturer in China as it sold its smartphones in more than 200,000 retail outlets. The company has now become one of the top 5 smartphone brands in the world.

Oppo is one of the main sponsors of the Indian Cricket team, due to this many cricketers including Ravichandran Ashwin have endorsed the phone on multiple platforms. In 2019, Virat Kohli, Rohit Sharma, Shikhar Dhawan and Ravichandran Ashwin were a part of an ad campaigns for the 2019 world cup.

Aristocrat’s bags

Aristocrat is one of the upcoming luggage manufacturers with its headquarters in Mumbai, Maharashtra. The brand has a legacy of over 43 years, and is known for its products such as backpacks, hard/soft luggage uprights, duffel trolleys, office bags, overnighters, suitcases and briefcases.

Aristocrat is a subsidiary of VIP industries which is the world’s third largest and Asia’s largest luggage maker. Both Rohit Sharma and Ravichandran Ashwin were signed to be the brand ambassadors in 2017. The duo were a part of the ad campaign with the tagline of ‘Unpack Your Dreams’

It showcases Rohit Sharma at an Indian airport, waiting for his lost luggage to arrive while the authorities at the airport to be are shown to be mishandling his bag. The luggage finally arrives after going through adverse conditions, but the trophy inside the bag is in good condition showing that the brand makes durable, stylish and high-quality luggage. The ad campaign was targeted towards the younger generation.

Conclusion

Ravichandran Ashwin is undoubtedly amongst the best cricketers in the Indian team especially for international cricket formats. The cricketer is known for his calm persona, dedication to the game and because he has broken several records to be one of the fastest bowlers. Over the years Ravichandran Ashwin has seen a steady increase in brand endorsements.

Frequently Asked Questions

Who is Ravichandran Ashwin?

Ravichandran Ashwin is one Indian all-rounder cricketer that plays for Tamil Nadu in domestic cricket and Delhi Capitals in the IPL.

What is the net worth of Ravichandran Ashwin?

The net worth of Ravichandran Ashwin is estimated to be $20.5 million as of 2021.

What are the brands endorsed by Ravichandran Ashwin?

Some of the brand endorsed by Ravinchandran Ashwin are Manna Foods, Aristocrat bags, Oppo, Moov, Specsmakers, Ramraj Linen Shirts, Myntra.

How much does Ravichandran Ashwin charge for brand endorsements?

Ravichandran Ashwin is known to charge Rs 20 to Rs 30 lakh per brand endorsements.

September 10, 2021
How Does BCCI Benefit from India Series
There’s no doubt that people are crazy about cricket in India. It is one of the most celebrated sports in our country. The Board of Control for Cricket in India (BCCI) is the richest cricket governing body in the world. One of the reasons behind BCCI’s success would be massive fans of cricket in India. The fact that BCCI does not depend on the Government of India for its finances is truly surprising.

India’s tour of Australia is just around the corner and cricket fans can’t wait to watch their favorite players play against Australia. One question that arises in everyone’s mind is How does BCCI Benefit from India Series. Let’s have a look

With Ipl closing to its final, which is happening in UAE, the Indian players aren’t allowed to head back home but rather would now board the flight to Australia. Indian cricket team will arrive in Australia on 12 November and will quarantine in Sydney before the first match of the series.

India Upcoming Series

Revenue model of India Series

How does BCCI Earn?

BCCI, the richest cricket body in the world but the question that arises in everyone’s mind is How does this richest cricket body Earn. The different ways from which BCCI earns it is as follows
1. Global Media Rights
2. Official kit sponsorship rights
3. Official Team Sponsor
4. IPL Revenues
1. Global Media Rights

For most sports organizations including, BCCI, the sale of broadcasting and media rights is one of the biggest sources of revenue, generating the funds needed to finance major sporting events, refurbish stadiums, and contribute to the development of the sport. The royalties that broadcasters earn from selling their exclusive footage to other media outlets enable them to invest in the costly organizational and technical infrastructure involved in broadcasting sports events to millions of fans all over the world.

Broadcasters pay a substantial amount for exclusive rights to show live coverage of sports events. In 2018 STAR India acquired BCCI’s 5-Year Global Media Rights(broadcasting and digital) For Rs 6,138.1 Crore, which is It will pay Rs.60.18 crore per international in India till 2023.

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2. Official kit Sponsorship Rights

Kit sponsorship is one of the most prominent forms of sports advertising. Having a brand name on the front of a team kit offers you coverage across all forms of modern media, putting you in front of hundreds of thousands, if not millions of cricket fans around the world.

Nike has been Indian cricket teams official kit sponsor since 2006. As per reports, Nike coughed up around Rs 370 crores to renew the kit sponsorship with the Indian team in 2016 that will finish on September 30 this year. It is believed that they pay around Rs 87,34,000 per game.

MPL Sports is the new kit sponsor for the Indian cricket team. In a fresh contract signed with the Board of Control for Cricket in India on Monday, MPL signed a three-year deal worth Rs 120 crores. The deal is from November 2020 till December 2023 and will see the board earn Rs 65 lakh per game over the three-year period.

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3. Official Team Sponsor

Official Team Sponsor means a lot of brand exposure during Live sport. Official Team Sponsor has the right to display a commercial logo on the clothing of the men’s cricket team, the under-19 side, the men’s A-Team and the women’s squad.

Being an Official Team Sponsor gets you the perk of the prominent space in the backdrop board in the post-presentation area, the backdrop in the dugout, and boundary rope. A lot of these branding opportunities apart from digital and media opportunities are part of the official team partnership.

Byju’s has taken over all associated sponsor rights of the current team sponsor Oppo Mobiles India Private Limited. Byju’s logo will be seen on the Indian team jersey.

Byju’s Official Team Sponsor

4. IPL Revenues

One of the biggest reasons behind BCCI’s financial strength is the IPL – which indeed is the most lucrative franchise-based cricketing tournament in the world. The BCCI gets a whopping INR 3300 crore from the media rights holder (Star TV) per year for the IPL. BCCI also earns about Rs 170 crore from Dream11, PayTM, CEAT, etc. sponsors.

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BCCI, one of the richest cricket body in the world which has already crossed the Rs 13,000 crore mark in 2019. The money earned by BCCI is spent for the conduct of various cricket tournaments, starting from District level to international championships. The officials and players are paid a salary and playing fees respectively from the money that BCCI earns.

All the credit for the success of BCCI goes to players and the Indian national team, which has not only performed brilliantly for the last few years, but also attracts sponsors with its glamour quotient. The astonishing thing about cricket sponsorship in India is, you don’t have to employ a marketing genius to bring in sponsors.
November 7, 2020