Picture Credit: BCCI/IPL
Mumbai Indians (MI) is a franchise cricket team in IPL based out of Mumbai and was founded in the year 2008. MI is currently the most successful franchise with five IPL trophies and two CL T20 trophies to their name. Mumbai Indians were sold to Reliance Industries Limited (RIL) for USD111.9 million. Mukesh Ambani acquired rights of the franchise for a period of ten years and thus became the most expensive team to be sold in the IPL in 2008.
Mumbai Indians became the first franchise to cross the USD100 million mark in brand value among all IPL franchises. The brand value of MI in 2019 was roughly estimated to be around INR 809 Crore.
Every year, MI earns a lot through media rights, sponsorships, stadium ticket sales, merchandise sales (T-shirts), and prize money they get from the cash-rich league. Here in this article, we will look into the details of the above-mentioned things.
1. Media Rights
BCCI guarantees a good amount of share for all ten IPL franchises from the revenue they get through media rights. The 2023-27 cycle media rights were sold for a whopping price of INR 48,390 Crore in total.
Among all IPL franchises, the team with the higher rank receives the larger share of media revenue, and notably, Mumbai Indians were the top-ranked side several times in the 15 different IPL editions. Thus, they have got more money from media rights when compared to other franchises.
Mumbai Indians are also very active in digital media as they have launched Mumbai Indians TV (website) to engage their ardent fans with exciting updates related to the team and their players. MI has 2.9 Million subscribers on YouTube, 13.8 million followers on Facebook, and 11.6 million followers on Instagram.
2. Sponsorship
In IPL, sponsors have played a huge part to be the foremost income for a franchise and this year, 11 new sponsors have joined the Mumbai Indians team which has resulted in revenue growth of 22% for them.
Among all 25 sponsors, Usha International has been the oldest brand to be associated with the MI franchise for more than ten years. Some other premium partners of MI include brands like Samsung, and DHL (German logistic company), and also another soft drink brand Slice became a principal partner for them in 2022.
Mumbai Indians also earn a lot of money through league-related activities launched by their sponsors.
3. Stadium ticket sales
Mumbai Indians owners get a lucrative amount through ticket sales from their home matches which happen at stadiums like Wankhede Stadium, Brabourne Stadium, and DY Patil Stadium. Through sales of tickets, the MI franchise gets a fixed amount of money as per IPL guidelines, and along with this they also generate income through gate tickets and passes as well.
The price of tickets in IPL 2023 starts from INR 2,200 onwards at these venue.
4. Merchandise sales
Merchandise sales also play a vital role for them as revenue generated from it goes to the income of IPL franchises. Mumbai Indians earn a lot through sales of their products like jersey, caps, shoes, etc. Through sales of these merchandise to their fans, the franchise gets a decent chunk of the amount from consumers.
MI has re-launched its online merchandise shop by expanding the store as 'MI Shop' and they have a tie-up with 10 different licensing partners. With the steep rise of game merchandise in the country they have upgraded their online store to strengthen the bond with fans even more.
5. Prize Amount
Mumbai Indians have earned a prize amount of INR 75 Crore by winning five IPL titles in 2013, 2015, 2017, 2019 & 2020. When compared to other teams, MI has earned more money through prize as they remain to be the most successful franchise in IPL history.
Notably, this source of income has been minimal among the things mentioned so far. Last year IPL winning team got INR 20 Crore, and this year they have increased the prize money by a margin of 20-25 percent.
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