BCCI's finances have hit new highs in recent years: Details
What's the story
The Board of Control for Cricket in India (BCCI) has witnessed a massive financial growth, with its bank balance increasing by ₹14,627 crore since 2019, as per Cricbuzz. The report was shared with state associations and revealed that the BCCI's bank balance stood at ₹20,686 crore as of last year. The increase is mainly due to an IPL surplus and ICC distributions.
Financial growth
General fund nearly doubles
The BCCI's general fund has also nearly doubled from ₹3,906 crore in 2019 to ₹7,988 crore in 2024. The board has allocated ₹3,150 crore for tax liabilities for FY 2023-24 while contesting the matter in courts and tribunals. Despite a dip in media rights income due to fewer home internationals, investment income jumped to ₹986.45 crore from ₹533.05 crore last year owing to higher returns on deposits.
Budget allocation
BCCI posts surplus of ₹1,623.08 crore
The BCCI posted a surplus of ₹1,623.08 crore for 2023-24, up from ₹1,167.99 crore last year. This is mainly due to increased IPL surplus and ICC distributions. The board has earmarked ₹1,200 crore for infrastructure development, ₹350 crore for a platinum jubilee benevolent fund, and ₹500 crore for cricket development infrastructure in the current fiscal year.
Statement
Here's what the source said
The report also appears to have busted the myth that the BCCI does not pay income tax. It set aside over ₹3000 crore towards taxes while continuing its appeal in various tribunals. "The BCCI has provisioned INR 3,150 crore towards income tax obligations for FY 2023-24. While BCCI is on the right track before the courts and tribunals, it has still made provisions towards paying any obligations that may arise towards tax," the report reveals.