BCCI's earnings soar to ₹20,686 crore amid record-breaking IPL viewership
What's the story
The Board of Control for Cricket in India (BCCI) has recorded a massive jump in its earnings this year. The board's cash and bank balance have increased from ₹16,493 crore in FY2023 to a whopping ₹20,686 crore in FY2024. This is an approximate growth of ₹4,200 crore. The spike is majorly due to revenue from Indian Premier League (IPL) media rights and bilateral cricket rights.
Revenue sources
IPL media rights contribute significantly to BCCI's revenue
The IPL media rights, which were sold for a mind-boggling ₹48,390 crore for a five-year period, beginning June 2022, bolstered BCCI's revenue. The board also gets a major chunk of revenue from the International Cricket Council (ICC). These sources have significantly contributed to BCCI's financial health.
Financial performance
BCCI's actual income surpasses projected earnings
The BCCI had earlier estimated earnings of ₹7,476 crore for FY23-24. However, the actual income exceeded expectations, amounting to ₹8,995 crore. The robust financial performance also resulted in the general fund rising from ₹6,365 crore to ₹7,988 crore. Moving into FY24-25, the board expects earnings of about ₹10,054 crore with a total budgeted expenditure of ₹2,348 crore.
Grants distribution
BCCI's financial support to state units
The BCCI's financial prosperity is also important for its 38 state units, which depend largely on the board's annual grants. According to the latest document, the budgeted amount to these associations are at ₹499 crore. This financial support highlights the importance of BCCI in promoting and sustaining cricket at all levels across India.