Mumbai Indians, one of the most successful franchises in the Indian Premier League, posted a massive profit of INR 109 crore for FY24. The Indiawin Sports Pvt. Ltd.-owned franchise doubled its revenue over the previous fiscal to net a massive INR 737 crore in FY24. It is nothing short of a miracle for this financial turn-around and clearly reflects the strong business acumen of the franchise and its ability to cash in on the ever-growing popularity of cricket, especially in India.
On the other hand, FY23 has been a bit different and does not reflect such a favorable situation for the Mumbai Indians. The team garnered revenues worth INR 358.79 crores but suffered a loss of INR 49.5 crores. Their central media rights with the Board of Control for Cricket in India generated a massive INR 227 crores. The BCCI had huge deals with Disney Star for television rights and Viacom18 for digital rights. As a result, this resulted in absolute money inflow to all IPL franchises. These massive deals were essential in supporting Mumbai Indians’ books and thus helped the team in its comeback during FY24.
However, even as the franchise has registered stupendous success in the Indian market, its other international foray has yielded limited success. The rest of Mumbai Indians’ global expansion makes for owning the MI Cape Town in South Africa, MI Emirates in the ILT20of the UAE, and MI New York in MLC of the US, of which no franchise made any money in FY24. According to a Livemint report, while MI New York had gross revenue of INR 38.6 crore, it suffered a net loss of INR 21.97 crore, and MI Emirates grossed INR 32.6 crore in revenue but incurred a net loss of nearly INR 45.3 cr. These losses underline the struggles of building and maintaining profitable cricket franchises outside India.
News :-
Mumbai Indians swings to ₹109 crore profit, revenue more than doubles in FY24.
[ Source – Mint ] pic.twitter.com/MqlxCFMoTQ
— Jay Cricket. (@Jay_Cricket18) August 8, 2024
Still, among all the clubs, the Mumbai Indians are the most valued IPL franchise, even after all these international setbacks. The Mukesh Ambani-led Reliance Group had invested $111.9 million for the franchise rights, and the group has been worth its sale. According to a recent valuation performed by American investment bank Houlihan Lokey, the business has grown to a whopping $16.4 billion (about INR 1.35 trillion) for Mumbai Indians as of 2024. This is an increase of 6.5 percent in its valuation from 2023 and further cements the supremacy of the franchise in the league.
The overall IPL valuation also rose 6.3 percent in 2024 from the previous year to hit $3.4 billion. The valuation of the league, which was $1.8 billion in 2022, has increased manifold to reach $3.2 billion in 2023. In this very dynamic ecosystem, the valuation of Mumbai Indians stood alone at $204 million in 2024. Star players like Rohit Sharma, Hardik Pandya, Suryakumar Yadav, and Jasprit Bumrah have been the reason for such valuations. The recent captaincy controversy did impact the franchise value to some extent, but under more stable conditions the amount would have certainly been higher.
