The revenue from IPL broadcasting rights is divided between the BCCI and the franchises on a 50-50 basis with the BCCI keeping 50% and the rest of the money is equally distributed to all IPL teams.
For instance, the 2023-27 IPL media rights were sold for ₹48,390 crore (~$6.2 billion). So each franchise gets roughly between ₹400-500 crore annually. What Goenka is suggesting here and he seems quite confident about it, that the broadcasting rights will go up significantly in the coming years
And you’re right, it is the major revenue stream for the IPL owners but not the only one. They generate revenues from other sources as well. From jersey sponsor alone most IPL teams generate like ₹50-100 crore annually.
Then you have revenues from ticket sales and you would be surprised to know BCCI doesn’t take a cut from it. 80% of the ticket sales revenue goes straight to the IPL team owners pockets and the remaining 20% goes to the authority that owns the stadium. So again, the IPL team can mint close to ₹50 crore each season from ticket sales. It will vary of course for teams based on their stadium capacity, turnout and ticket pricing.
Then you have revenues from merchandise and all.
The valuation of most IPL teams has appreciated significantly over time as the brand has grown. Mumbai Indians were bought by Ambanis for a little over 100 million USD back in the day and it is worth over 1 Billion USD. Same with KKR and other popular teams. Shahrukh bought KKR for 70 million USD, his team is also near billion dollar worth today. You’re talking about 14X ROI in 16 years from valuation alone. That alone trumps all the mathematics mentioned above. IPL’s brand value is untouchable and the biggest reason why billionaires flock to have a piece of that cake.