ISL 2025/26 Season Faces Financial Crisis as Media Rights Value Crashes by 95%
The All India Football Federation (AIFF) has announced FanCode as the exclusive media rights holder for the upcoming 2025/26 Indian Super League season, set to commence on February 14. This development comes amid a severe financial downturn for India's premier men's football competition, with the deal revealing a shocking 95 percent drop in per-match valuation compared to previous seasons.
FanCode's Winning Bid Reflects Drastic Devaluation
FanCode, a digital streaming platform owned by Dream Sports, secured the broadcasting rights for a mere Rs 8.62 crore. This amount represents only a fraction of what the league commanded in recent years. For context, the broadcasting rights for both the 2023-24 and 2024-25 seasons were valued at Rs 550 crore total, translating to approximately Rs 275 crore per season across 163 matches.
With the upcoming truncated season expected to feature 91 games, the per-match valuation has plummeted from about Rs 1.68 crore last season to just Rs 9.47 lakh for 2025/26. This dramatic decrease highlights the financial challenges currently facing Indian club football.
Production Rights and Broadcast Partnerships
In addition to FanCode's acquisition, Kaleidoscope Production and Services (KPS) Studios has been awarded the production rights for both domestic and global coverage. The federation will pay KPS Studios Rs 5.22 crore for their services, drawing on their previous experience with I-League, Durand Cup, and Bengal Super League matches.
Since FanCode operates primarily as a digital streaming platform, questions remain about television broadcast arrangements. The platform is reportedly seeking a partner for traditional television coverage, with final decisions pending discussions between FanCode, AIFF, and ISL clubs.
Financial Strain Forces Player Pay Cuts Across Clubs
The drastic reduction in media rights value mirrors broader financial difficulties throughout the league. Several clubs are reportedly teetering on the brink of collapse following months of uncertainty about the season's status.
In response to these challenges, multiple clubs have implemented salary reductions:
- Bengaluru FC: Owner Parth Jindal confirmed that first-team players, including legendary striker Sunil Chhetri, have agreed to take pay cuts to help the club navigate this difficult period.
- FC Goa: Players such as India captain Sandesh Jhingan and support staff have accepted reduced remuneration, with the club describing their decision as a selfless act in support of the team.
These developments have drawn attention from FIFPro, the global football players' union, which recently urged clubs to respect players' contractual entitlements despite the financial pressures.
Root Causes of the Current Crisis
The financial impasse stems from the expiration of a 15-year commercial rights agreement between AIFF and Reliance Sports on December 8, 2025. This expiration would have occurred midway through what would typically be a regular ISL season.
When negotiations between AIFF and Football Sports Development Limited (FSDL) stalled, FSDL informed ISL clubs in July 2025 that the 2025/26 season would face indefinite delays. The situation worsened when AIFF's November tender for a new partner failed to attract a single bid, ultimately leading to the significantly reduced deal with FanCode.
The upcoming season represents a critical juncture for Indian football, testing the resilience of clubs, players, and administrators as they navigate unprecedented financial constraints while attempting to maintain competitive standards in the country's top football league.
