The Royal Challengers Bangalore, a cricket team formed in 2008 is the team representing India in the IPL (Indian Premier League). The Indian Premier League is the world's most well-known domestic Twenty20 tournament. The League's founding body is the Board of Control for Cricket in India, which was established in 2007. In this league, the finest cricket players from around the world compete. Each year, from March to May, the Indian Premier League (IPL) pits clubs from eight Indian cities or states against each other.
The Royal Challengers Bangalore team was created as part of the Indian Premier League and it is owned by the United Spirits Limited, which is part of the Diageo Group. Teams for the League were auctioned in Mumbai on February 20, 2008. They were from eight different Indian cities. Vijay Mallya paid 111.6 million dollars for the Bangalore franchise (who has resigned in 2016). It was the team's second-highest proposal, after only Reliance Industries' $ 111.9 million offer to the Mumbai Indians.
The IPL tournament will be in its fourteenth season in 2022. Mumbai Indians are the current IPL champions, having won the season in 2022. The Royal Challengers Bangalore’s thirteenth season was extremely successful, as they qualified for the playoffs for the first time since 2016. They also won by 10 runs against Sunrisers Hyderabad to start the season. However, a strong start was ruined by five straight losses near the end of the season. As a result, the RCB fell short in Eliminator and fell to fourth place in the standings.
Padikkal and AB de Villiers were the batting stars of the season, according to the players' individual performances. Virat Kohli, the skipper, scored 466 runs, including three fifties; the 13th IPL season was not kind to him. Yuzvendra Chahal, the team's spinner, was instrumental in the franchise's success last season, taking 20 wickets in 14 matches and climbing into the top-five list of IPL wicket-takers.
In terms of global popularity, the IPL is the most popular cricket league, with the sixth greatest average attendance of any sports league. In 2010, the IPL became the first sporting tournament in the world to be televised live on YouTube. In 2022, the IPL's brand was estimated to be worth $6.7 billion. The 2015 IPL season contributed Rupees 11.5 billion to Indian GDP, according to BelCCI. But how do franchises make money and, as a result, enrich their owners?
The Indian cricket industry has devised several methods for IPL teams to generate cash. Some can be classified as major, while others are classified as minor or local. In terms of the amount of money they can bring, the following are the most significant:
Other ways for a team to generate money include:
Obviously, not all of these profits go to the owners: a portion goes to the BCCI, and a portion of ticket sales, for example, goes to sponsors. All broadcast revenue is collected by BCCI and distributed to the teams. Media rights are frequently the most lucrative source of money, accounting for up to 60% of total club revenue. To give an example, Star India paid 16,347 crore INR for the IPL media rights for the seasons 2018-2022, or 3,269 crore INR per season.
The IPL has always been profit-driven, and the BCCI has made huge profits despite a dip in revenues in 2022 due to the removal of VIVO, the title sponsor, and a ban on spectators in the stadiums. Due to the event's postponement, various additional significant sponsors also backed out. Despite this, the previous season did not experience a financial loss, and viewership grew by 25%. According to the BCCI, the board made a profit of Rs 4,000 crore for the 2022 IPL season.
According to Brand Finance, an international brand valuation firm, RCB's brand value was estimated to be over $49.7 million in 2022. As of 2022, this is the sixth most valuable brand among IPL teams:
According to a survey conducted by Duff & Phelps, the Royal Challengers Bangalore brand is worth $83 million as of 2022. As previously stated, the RCB's owner 2022 is the same Diageo India, specifically through its beverage alcohol subsidiary United Spirits. The profit from the RCB franchise accounts for about 10% of Diageo's overall annual operating profit. USL's interim Chairman is Mahendra Kumar Sharma, while the company's Managing Director and CEO are Anand Kripalu.
In the 2018-19 fiscal year, RCB generated INR 143 crores, more than doubling its revenue from the previous year. In 2022, the cost has increased to 313 crores. 2022 saw a reduction in revenue, as one might assume, owing to a lack of attendance at stadiums.
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