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Punjab Kings. (Photo Source: BCCI/IPL)
The Indian Premier League (IPL) has returned with its 16th edition. Since 2022, it has become a 10-team competition, with the entry of two new franchises Gujarat Titans (GT) and Lucknow Super Gianst (LSG). After the conclusion of the 2022 IPL edition, the Board of Control for Cricket in India (BCCI) sold its media rights package and grabbed the attention.
This incredible deal became the centre of attraction as it catapulted the IPL to the second spot on the list of top-sporting leagues in the world. The unprecedented achievement has not only benefitted the league but its franchises too. According to a report, the profit earned through media-rights sales might double the income of the franchises too. Punjab Kings (PBKS), one of the oldest franchises in the league, has an overall value of over seven thousand crores. Following this deal, the franchise is all set to see an increase in its income in the upcoming seasons.
Let’s have a look at Punjab Kings’ overall value and sources of revenue in IPL:
1. Media Rights
Shikhar Dhawan. (Photo Source: IPL/BCCI)
BCCI’s exemplary revenue distribution model has bolstered the franchises since the beginning of the league. After receiving a sizeable amount from broadcasters and over-the-top (OTT) platforms, it deducts its chunk and distributes the remaining sum to all the franchises that participate in the competition.
In 2022, the BCCI sold the IPL media rights (2023-27 seasons) for the subcontinent to the Mumbai-based media company Viacom18 (OTT), and the broadcasting giant, Disney Star (TV broadcasting). From this deal, the board extracted a hefty amount of INR 48,390 crore.
Realising the popularity of the cash-rich league, Viacom 18 didn’t hesitate to splurge INR 23,759 crores. With the league’s remarkable success, the Punjab-based franchise’s revenue might see a big jump in the upcoming seasons.
2. Sponsorships
Punjab Kings. (Photo Source: BCCI/IPL)
IPL franchises count on sponsorship revenues as they make the second-largest source of income for them. In the past, renowned international brands such as Whirlpool, Reebok, Wrigley, Videocon D2H, and HTC have sponsored Punjab Kings. For the 2023 season, PBKS have roped in some renowned companies as their sponsors. Moreover, they have also partnered with Campa Cola and B Natural Juices & Beverages for the ongoing IPL 2023 edition.
In 2023, the financial services company Ebix Cash and India’s leading natural cosmetics company Lotus Herbals are serving as the title sponsors of the team. The logos of both brands can be seen on the jerseys of PBKS players. Along with these two big players, the Indian fantasy sports platform Dream 11 is also a principal sponsor.
Since 2018, Reliance Jio is sponsoring all IPL teams, which included PBKS as well. For the last five years, the mobile network operator’s logo has been a permanent sight on Punjab’s playing kit.
3. Stadium Ticket Sales and Gate Passes
I.S.Bindra stadium, Mohali. (Photo Source: Twitter/BCCI)
Since the maiden IPL season, Mohali’s Inderjit Singh Bindra Stadium is the home ground of PBKS. At the iconic stadium, the team has made a lot of memories by bagging some great triumphs in front of their home crowd. Along with the Mohali stadium, Dharamsala’s Himachal Pradesh’s Cricket Association (HPCA) Stadium also serves as PBKS’s home ground.
Every year, PBKS supporters register their presence at both venues to boost the confidence of their team to win games. According to the home-and-away format of the league, the team gets seven matches to host at their home grounds. These seven matches also come out as an opportunity for the franchise to collect money through ticket sales and gate passes.
The league management gives the right to the IPL franchises to determine the ticket price. In these years, the stunning cricket action has worked as a magnet to bring spectators to the stadiums However, from 2020-22, the COVID-19 pandemic disrupted the cricketing action to the cricket frenzy public in these cities.
4. Merchandise Sales
Punjab Kings’ Jersey. (Photo Source: Twitter)
The sports merchandise business is increasing in the country at a rapid pace. Acknowledging the market trend, Kolkata Knight Riders (KKR) and Mumbai Indians (MI) broke into this sector with their online retail stores. Like MI and KKR, Punjab Kings (PBKS) also sells its merchandise through its megastore powered by Fancode shop.
Through the sale of its merchandise such as jersey replicas, souvenirs, and athletic equipment, the franchise makes a decent sum throughout the year. However, during the IPL season, the sale skyrockets as fans don’t miss the chance to display their loyalty and fondness for their team.
With the rise of the sports merchandise business in the nation, PBKS announced ‘playR’ as its official fan merchandise partner in 2023. This alliance will now strive to bring fans and the PBKS team closer by helping fans to show support for the team through the sale of exclusive merchandise and accessories.
5. Prize Money
Punjab Kings. (Photo Source: IPL/BCCI)
In the inaugural IPL edition, PBKS played magnificently and qualified for the semi-final. However, their campaign came to an end after losing to MS Dhoni-led Chennai Super Kings (CSK). After the first season, they struggled for tr next five years to register their presence in the Playoffs round.
In 2014, their best came under the leadership of George Bailey. With 11 victories in the round-robin stage, they ended up at the top of the points table. After advancing to the Playoffs for the first time, the emboldened Punjab squad lost to Kolkata Knight Riders (KKR) but put up a spunky fight against CSK to seal their spot in the final.
In the final, they lost the game just when it mattered most and went back home without the distinguished IPL trophy. However, one positive thing that happened despite losing the trophy was the winning of the prize money. For ending their campaign as the runners-up of the IPL, PBKS pocketed a whopping INR 10 crore.
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