Nita Ambani’s Mumbai Indians have done wonders. Mumbai Indians have made double the revenue and profit compared to last year. It actually belongs to Indiawin Sports Private Limited which is owned by Reliance Industries Limited. Indiawin has seen a rise in both its profits and revenues. Where the company’s revenue more than doubled in the last financial year. On the other hand, the company has made profits. Let us also tell you what was Indiawin’s revenue and profit in the last financial year.
This is how MI won
According to Reliance Industries’ annual report, Mukesh Ambani’s sports venture Indiwin’s revenue stood at Rs 737 crore in FY24. On the other hand, the company’s profit was estimated at Rs 109 crore. What’s special is that in FY23, Indiawin Sports made a loss of Rs 49.5 crore and the company’s revenue stood at Rs 358.79 crore. The company said that out of the entire revenue earned in FY23, it received Rs 227 crore from the net income of BCCI-IPL Central Rights or Central Pool.
When the BCCI sells its core media rights, a major chunk of it is given to teams or franchises, of which there are 10 at present. In 2023, Mumbai Indians earned Rs 10.8 crore from sponsors and about Rs 92.79 crore from event management. On the other hand, the company’s franchise revenue continued to decline in other countries like the Middle East, America and South Africa.
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What is the value of the brand?
The Mumbai Indians franchise has been continuously associated with IPL since 2008. At that time, the Mumbai franchise was the most valuable cricket franchise in the country. The group spent as much as $111.9 million to secure the rights to the team for a decade. According to a recent report by American investment bank Houlihan Lokey, the total business of IPL this season has reached $16.4 billion with a growth of 6.5 per cent. This increase is quite modest compared to the 81.7 per cent increase in the last financial year when the value of the league increased from $8.5 billion to $15.4 billion in 2022.
Meanwhile, the league’s standalone brand value also increased by 6.3 per cent to $3.4 billion in 2024 compared to the previous year. It rose by 77 per cent to $3.2 billion in 2023, compared to $1.8 billion in 2022. Mumbai Indians (MI) are valued at $204 million in 2024. Star players like Rohit Sharma, Hardik Pandya, Suryakumar Yadav and Jasprit Bumrah are present in this team.
The rest of the teams are lost.
In 2023, the BCCI-backed T20 tournament raked in Rs 3,000 crore as sponsorship revenue. In fact, the Ambani Group paid Rs 912.99 crore or $110 million to secure the rights to the Mumbai Women’s Premier League team, which is owned by IndiaWin. What’s special is that this bid by the Mumbai Indians was equal to the initial bid of $111.9 million for the IPL men’s team in 2008.
Reliance also operates subsidiaries Indiawin Sports Middle East Ltd, Indiawin Sports USA Inc and India Mumbai Indians (Pte) Ltd (in South Africa). MI US team which plays as MI New York team. The gross revenue of this team was Rs 38.6 crore and net loss was Rs 21.97 crore. Similarly, Indiawin Sports Middle East recorded a gross revenue of Rs 32.6 crore at the end of the financial year while a loss of Rs 45.3 crore.
