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Mumbai Indians Turn a Profit of INR 109 Crore in FY24 Despite Tough Season

From Bottom of the Table to Big Profits: How Mumbai Indians Managed a Financial Win

by Cricket Army
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Mumbai Indians celebrate financial success despite tough season

In an impressive financial turnaround, Mumbai Indians (MI) have reported a profit of INR 109 crore for FY24. Despite finishing at the bottom of the IPL table, the franchise, owned by Indiawin Sports Private Limited, saw its revenue soar to INR 737 crore, nearly doubling from the previous year’s earnings.

From Losses to Gains: Mumbai Indians’ Financial Journey

In FY23, MI faced financial challenges, recording a revenue of INR 358.79 crore and a loss of INR 49.5 crore. A significant portion of their revenue, INR 227 crore, came from BCCI’s central media rights. These earnings were bolstered by BCCI’s lucrative deals with Disney Star for television rights and Viacom18 for digital rights, ensuring that all franchises, including MI, benefited financially.

Struggles Beyond IPL

While MI’s financial success in India is notable, their international ventures have faced challenges. MI Cape Town in South Africa, MI Emirates in ILT20, and MI New York in MLC all struggled to turn a profit in FY24. MI New York reported a gross revenue of INR 38.6 crore but ended with a net loss of INR 21.97 crore, while MI Emirates had a gross revenue of INR 32.6 crore but suffered a net loss of approximately INR 45.3 crore.

IPL Valuation and MI’s Market Value

Despite these setbacks, MI remains the most valuable franchise in the IPL. The Reliance Group, led by Mukesh Ambani, initially secured the franchise rights for $111.9 million. According to a recent valuation by American investment bank Houlihan Lokey, MI’s business reached a staggering $16.4 billion (approximately INR 1.35 trillion) this season, marking a 6.5% increase from 2023.

Overall, the IPL’s valuation grew by 6.3% in 2024, reaching $3.4 billion, a significant rise from $1.8 billion in 2022 and $3.2 billion in 2023. MI’s individual valuation is pegged at $204 million in 2024. Star players like Rohit Sharma, Hardik Pandya, Suryakumar Yadav, and Jasprit Bumrah played pivotal roles in boosting MI’s value, although the captaincy controversy did have a slight impact.

What’s Next for MI?

With financial gains on the rise, can Mumbai Indians overcome their on-field challenges in the next season? Share your thoughts and join the conversation!

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