In their maiden Indian Premier League (IPL) season in 2022, Gujarat Titans (GT) played stupendously under Hardik Pandya and managed to clinch the trophy. Having leveraged the launchpad well in their debut season, Titans would be keen on carrying the momentum forward and returning with remarkable performances in the subsequent seasons as well. Notably, they became the only second team in the league's history to win the trophy in their debut season itself, thus enhancing their brand value.
So far, GT has been doing excellent in the T20 tournament, having hit headlines for their superb performance several times. In the cash-rich league, their journey began in 2021 with CVC Capital Partners acquiring the rights to operate the franchise with a bid of INR 5,625 crore. This year, GT’s income is expected to get doubled after the Board of Control for Cricket in India (BCCI)'s elephantine sale of the IPL media rights for the 2023-27 cycle.
To know more about GT’s net worth and income, have a look below:
1. Media Rights
Franchises get a remarkable sum through media rights revenue. After selling away media rights, the BCCI gets a decent amount from broadcasters and OTT (over-the-top) platforms. Since the league’s inception, the board is following the revenue distribution model that helps the franchises obtain 40-50% of the total media-rights revenue.
After deducting its part, the board shares a huge amount with the franchises but among all, the one that goes home with the title gets the highest chunk. As mentioned earlier, the board sold the media rights and received a humongous amount. Viacom18 and Disney Star, who won the digital rights and broadcasting rights respectively, for the Indian subcontinent, splurged INR 23,758 crores and INR 23,575 crores apiece.
This unprecedented deal helped the league to reserve the second spot on the list of the most-valued sporting leagues in the world. Riding on the amazing growth of the league, Titans are also expected to perform well financially.
2. Sponsorships
Sponsorship revenue is the second most important source of making money for franchises. For years, the franchises have heavily relied on renowned brands to boost their income. In the cash-rich T20 tournament, there are two kinds of sponsors that work closely with the franchises.
On one side, the BCCI gets a huge amount from the sponsors of the league and shares 40-50% of it with all the IPL sides. Along with it, the franchises also get the freedom to ally with brands to fill their pockets. In February 2022, Gujarat Titans signed the Indian electronic vehicle brand Ather Energy as their principal sponsor for two years.
The franchise also partnered with BKT Tires, Capri Global, Astral Pipes, Rayzon Solar, and Equitas Small Finance Bank. Apart from these huge names, the Indian telecommunications company, Jio, also came on board as the associate sponsor of the team before their debut season in 2022.
3. Stadium Ticket Sales
In their first IPL season, GT didn’t get a chance to host any game at their home ground Narendra Modi Stadium in Ahmedabad, due to the COVID-19 pandemic. Although the Qualifier 2 and the Final of the 2022 tournament were held at the iconic stadium, the ground actually served as a neutral venue for the aforementioned clashes.
The absence of the home-and-away format kept Titans away from the income through stadium tickets and gate passes in the previous editions. In 2023, the tournament returned to its old form, enabling GT to host seven matches at their home venue. Since the league’s emergence, it has been the sole discretion of the franchise owners to decide on ticket prices.
After selling the match tickets, a fixed percentage goes into the pocket of the sponsors and the board, while the remaining amount is absorbed by franchise owners. This year, the Gujarat-based franchise is expected to make a huge profit through the sale of tickets and ground passes.
4. Merchandise Sales
India’s sports equipment and apparel business is expanding at a swift pace in India. According to Research and Market report, the business is likely to cross the $ 40 billion mark by 2027. The trend has increased the confidence of IPL franchises to break into this sector to make money.
For years, teams like Kolkata Knight Riders (KKR) and Mumbai Indians (MI) have been active in the merchandise business with their online stores. Talking about GT, the franchise launched its official Gujarat Titans Merchandise Store in 2022. The online shop is a one-stop destination for GT supporters to satiate their cricketing needs.
With the sale of sports goods such as shorts, track pants, joggers, bats, pads, gloves, and match replica jerseys, the franchisee receives a decent amount. Ahead of IPL 2023, GT announced the gaming chair brand, Cybeart as their merchandising partner, after sealing a multi-year deal.
5. Prize Money
In 2022, Titans made their debut in the cash-rich league under the leadership of Hardik Pandya. The team played an aggressive brand of cricket in the round-robin stage and finished at the top of the points table with 10 victories. With their exceptional performance, Titans managed to make a mark for themselves in their very first IPL season, playing alongside teams like Mumbai Indians (MI), Kolkata Knight Riders (KKR), and Chennai Super Kings (CSK).
They continued their excellent work in the Playoff round as well. Against the Sanju Samson-led Rajasthan Royals, Titans played the first Qualifier and snatched a victory from the jaws of defeat. Riding on David Miller’s heroics (69 off 38), Titans clinched the game in the last over and reserved their berth for the final.
In the final, they faced Royals again and won comfortably by seven wickets to lay their hands on the trophy. For their sensational performance, they not only went home with the coveted silverware but also the IPL prize money of INR 20 crore.
CricTracker Desk
content powered by
