BCCI worth a whopping Rs. 14,489 crore: Details here
The Board for Control of Cricket in India (BCCI) continues to be the world's richest cricket board. It was worth a whopping Rs. 14,489.80 crore at per its balance sheet for the year 2018/19. As per reports, the cricket board added Rs. 2,597.19 crore to its coffers by the end of the financial year 2018/19. Here is more.
According to a report in news agency IANS, BCCI earned Rs. 4,017.11 crore as income in 2018. Notably, half the sum (Rs. 2,407.46 crore) came from IPL 2018. Besides, a huge chunk of income during the period also came from the Indian cricket team's media rights (Rs. 828 crore). However, these rights also incurred an expenditure of Rs. 1,592.12 crore during the year.
Among other sources of income in 2018/19, the men's senior international tours/tournaments hosted in India played a significant role (Rs. 446.26 crore). The further sources were interest from the banks (Rs. 290.73 crore), and income from the ICC and Asian Cricket Council (Rs. 25.03 crore). Interestingly, BCCI's incumbent net worth includes bank balance, fixed deposits and fixed assets among others.
Out of BCCI's net worth - Rs. 14,489.80 crore (as on March 31, 2019), the main sources include general fund that stands at Rs. 3,906.88 crore and earmarked funds, which are valued at Rs. 3,243.41 crore.
It is interesting to note that STAR India owns the IPL media rights, having made a historic bid of Rs. 16,347.50 crore for five years (2019-2022). This translates into Rs. 54.50 crore per match. The BCCI's per match earnings from series sponsor Paytm and former national team jersey sponsor Oppo read as Rs. 2.42 crore and Rs. 4.61 crore respectively.
At the end of FY 2014/15, BCCI's net worth was Rs. 5,438.61 crore. In the following year, its net worth rose to Rs. 7,847.07 crore. A year later, it crossed the Rs. 8,000-crore mark (Rs. 8,431.86 crore). The meteoric rise continued in 2017/18, as it added a massive Rs. 3,460.75 crore (over one year), taking its net worth to Rs. 11,892.61 crore.
Speaking on balance sheet, a source said, "As per the Societies Act, under which the BCCI is registered, it should submit its balance sheet within six months (end of each financial year), besides sharing it with its members (state associations), and the ICC. Without submitting its balance sheet with the ICC, the BCCI will not get its share of distributions from the world body."