BCCI's cash balance sees ₹14,600cr rise in 5 years
What's the story
The Board of Control for Cricket in India (BCCI) has witnessed a whopping ₹14,627 crore increase in its cash and bank balance over the last five years. The rise comes after clearing all dues to state units. In the last fiscal year alone, BCCI added a massive ₹4,193 crore to its reserves. The current cash and bank balance of the board stands at an impressive ₹20,686 crore.
Fund growth
General fund nearly doubled
The BCCI's general fund has nearly doubled from ₹3,906 crore in 2019 to ₹7,988 crore in 2024. This is according to figures shared with state associations, says a report by Cricbuzz. The increase was highlighted in a statement of accounts presented at the Annual General Meeting (AGM) of the board.
Financial report
Massive increase in cash and bank balance
The statement of accounts noted that the BCCI's cash and bank balance has increased from ₹6,059 crore (before disbursing any amount to state cricket associations) to ₹20,686 crore after disbursing all amounts owed to the state cricket associations. This shows a massive increase in the board's financial standing over the past five years.
Tax provisions
BCCI sets aside ₹3,150 crore for tax liabilities
The BCCI has also set aside a huge sum of ₹3,150 crore for tax liabilities in FY 2023-24. This is being contested in courts and tribunals. The report also said that despite the legal battle, the board has made provisions to pay any obligations that may arise toward tax payments.
Revenue sources
Investment income jumps for the board
Despite a dip in gross media rights income to ₹813.14 crore from ₹2,524.80 crore due to fewer home internationals, the BCCI's investment income has risen sharply. The board's investment income jumped from ₹533.05 crore to ₹986.45 crore owing to higher returns on deposits. This shows that even with some revenue streams declining, others are performing well for the board financially.
Financial surplus
Surplus increases from last year
Thanks to IPL earnings and ICC distributions, the BCCI posted a surplus of ₹1,623.08 crore for FY 2023-24. This is an increase from last year's surplus of ₹1,167.99 crore. The board has allocated funds for infrastructure development (₹1,200 crore), the platinum jubilee benevolent fund (₹350 crore), and cricket development (₹500 crore).