Three of the Indian Premier League’s biggest franchises—Mumbai Indians, Royal Challengers Bengaluru, and Lucknow SuperGiants—have recorded financial setbacks in FY2025. Economic Times reported a substantial contraction in revenue and profit margins across these franchises, citing fewer matches and escalating costs as contributing factors. Indiawin Sports, the Reliance Industries-owned operator of Mumbai Indians, declared a profit of ₹84 crore, a drop from ₹109 crore in FY2024. Revenue fell to ₹697 crore, down from ₹737 crore a year earlier. Diageo-owned RCB registered a steeper decline. The Bengaluru-based franchise posted ₹514 crore in revenue, sliding from ₹649 crore. Profits shrank to ₹140 crore compared to ₹222 crore in the previous fiscal. The franchise, despite this dip, declared an interim dividend of ₹120 crore. RCB continues to maintain its women’s cricket operations in the WPL. ICRA in its rating update noted, “However, the company’s FY2025 revenues will also depend on how many matches of IPL 2025 are played in Q4 FY2025.” Read also: "Intention was right" Irfan Pathan explains former coach's mentality Lucknow Faces Losses; BCCI’s Disbursement Detailed Lucknow SuperGiants endured the sharpest reversal. RPSG Sports posted a turnover of ₹557 crore but ended with a loss of ₹72 crore, in contrast to a ₹59 crore profit on ₹694 crore revenue in FY2024. The group shoulders an annual franchise fee of ₹709 crore until 2031. RPSG Ventures chairman Sanjiv Goenka stated, “LSG has developed a strong fan base and enjoys healthy ticket revenues. It has also garnered attractive sponsorships. These, coupled with revenues from broadcast rights augur well for the business.” According to BCCI’s FY2024 annual report, ₹4,578 crore was distributed to IPL teams from total earnings of ₹11,703 crore. The breakdown included ₹8,744 crore from media rights, ₹2,163 crore from franchise fees, and ₹758 crore through sponsorship deals. Reliance and RPSG maintain global stakes in leagues such as SA20, Major League Cricket, and The Hundred. RPSG Ventures owns 51% of RSVPL, managing Durban SuperGiants in SA20 and, since February 2025, Manchester Originals in the UK’s The Hundred.