Mumbai Indians (MI), the Indian Premier League (IPL) powerhouse, has turned its fortunes around dramatically, posting a whopping profit of INR 109 crore in the financial year 2024. This represents a staggering turnaround from the INR 49.5 crore loss incurred in the previous year. At least in financial front, the five-time champions are way ahead than many franchises in world cricket.
Revenue of Rs 358.8 cr for Mumbai Indians
The key factor driving this impressive performance is the franchise’s significantly increased revenue, which doubled to INR 737 crore in FY24 compared to INR 358.79 crore in FY23. A substantial portion of this revenue boost can be attributed to the lucrative media rights deals secured by the Board of Control for Cricket in India (BCCI).
The governing body’s agreements with Disney Star and Viacom18 have injected significant funds into the IPL ecosystem, with franchises like Mumbai Indians (MI) being major beneficiaries.
While the team’s brand value suffered due to leadership changes and inconsistent performances in recent seasons, the presence of star players like Rohit Sharma, Hardik Pandya, Suryakumar Yadav, and Jasprit Bumrah continues to be a major draw for fans and sponsors alike. These homegrown talents, like Tilak Varma, Nehal Wadhera, and Akash Madhwal are nurtured by MI, have become household names, contributing significantly to the franchise’s overall appeal and fanbase.
Sister franchises of MI
However, the Mumbai Indians story extends far beyond the IPL. Reliance Industries, through its subsidiary Indiawin Sports Private Limited, owns 100% of its cricket-related businesses, including Indiawin Sports Middle East Limited, Indiawin Sports USA Inc., and India Mumbai Indians (Pty) Ltd in South Africa.
This strategic expansion has seen the creation of teams like MI New York, participating in the inaugural Major League Cricket (MLC) tournament in the US. While generating gross revenue of ₹38.6 crore, the team incurred a net loss of ₹21.97 crore. Similarly, MI Emirates, competing in the International League T20 in the UAE, reported a gross revenue of ₹32.6 crore against a net loss of approximately ₹45.3 crore.
In fact, the Ambani-backed industrial group also shelled out ₹912.99 crore or $110 milion to secure the rights of the Mumbai team of the Women’s Premier League, which is also housed under Indiawin.
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