IPL franchises to receive first big remittance of Rs. 85 crore each
Each of the eight IPL franchisees would receive a first instalment sum of Rs. 85 crore as their share from this season’s net central rights income. The total outgo for the BCCI/IPL from the first instalment would be Rs. 680 crore.
Published : Apr 29, 2018 19:27 IST
Each of the eight IPL franchisees would receive a first instalment sum of Rs. 85 crore as their share from this season’s net central rights income. The total outgo for the BCCI/IPL from the first instalment would be Rs. 680 crore.
With Star India making a successful bid of the media rights at Rs.16,347.50 crore and Vivo’s title sponsorship fetching Rs. 2199 crore — both for the 2018-22 cycle — the IPL revenue has increased manifold. The franchisees have been assured a total remittance of disbursement of around Rs.250 crore each for this season.
The eight franchises have cleared its fixed participation money, paying ten per cent of the franchise bid price in each of the first 10 years, and from this season the team owners were looking at expenses to be incurred on player and support staff salaries, travel and board.
The BCCI received rupees equivalent to $ 72 million each year as participation money from the franchisees from 2008 to 2017. Now, the franchisees will be paying twenty per cent of their income to the BCCI. “The franchisees will not be in red from this season. The investment will start yielding good returns,’’ said a BCCI official well versed with IPL business.
The remittance of the first instalment to the franchisees was taken at a recent CoA meeting. At the same meeting the BCCI CEO Rahul Johri suggested that match referees appointed for the domestic tournaments should double up evaluating player performance and give their feedback to the national selectors.
Johri’s suggestion was accepted by the CoA which also decided to provide the national selectors with the Online Database Monitoring System (ODMS).