The Board of Control for Cricket in India (BCCI) recently announced a massive prize of Rs 125 crore for India’s T20 World Cup 2024 winning team. This huge reward was expected, considering the BCCI’s status as the wealthiest cricket board globally.
The governing body for cricket in India, BCCI was established in December 1928. Over the decades, the board has grown immensely in stature and influence, becoming the richest cricket board in the world. Besides being at the helm of the Indian Cricket Team, BCCI also runs domestic cricket tournaments like the Ranji Trophy and the Indian Premier League (IPL).
The staggering net worth of the Indian Cricket Board
The BCCI has a net worth of USD 2.25 billion (close to Rs 19,000), according to NDTV. This is significantly higher than Cricket Australia, the second-richest cricket board, which is valued at Rs 660 crore, according to Cricbuzz.
The immense popularity of cricket in India has significantly contributed to the BCCI’s huge net worth. India has a population of over a billion people, and a large percentage of them are passionate about cricket. This vast audience translates to high viewership for matches, leading to lucrative broadcasting deals.
According to Mint, the board earned Rs 7,606 crore in revenue for the fiscal year 2021-2022, with expenses amounting to Rs 3,064 crore. For that same year, the BCCI paid Rs 1,159 crore in income tax. In 2020-2021, its revenue was Rs 4,735 crore, and the expenses were Rs 3,080 crore.
Here’s how the BCCI earns money
The BCCI generates revenue from four primary streams – media rights, sponsorship rights, ICC revenue share, and ticketing rights.
Media and sponsorship rights
In 2018, Star Sports India secured the BCCI media rights for television and digital platforms, outbidding Reliance and Sony with an offer of Rs 6,138 crore for the period from 2018 to 2023, according to Economic Times.
In August 2023, Viacom18 acquired the BCCI’s media rights for both TV and digital platforms, for a period from September 2023 to March 2028, for a total of Rs 5,963 crore, according to the official BCCI website. However, they do not broadcast ICC events, the media rights for which remain with Star Sports and Disney+ Hotstar.
Staggering figures behind the IPL media rights
In 2022, the IPL media rights for 2023-2027 were sold for an astonishing Rs 48,390 crore. The television rights for the Indian subcontinent were secured by Star for Rs 23,575 crore, while Viacom18 acquired the digital rights for Rs 23,758 crore, according to Financial Express. This deal propelled the IPL to become the second most valuable sporting event globally, only behind the National Football League (NFL) in the United States.
The BCCI also generates revenue from sponsorship deals. In August 2023, the board announced IDFC First Bank Limited as their new title sponsor for three years. Under this deal, IDFC Bank is paying the BCCI Rs 4.2 crore per match, according to Mint. Paytm, the former title sponsor, paid Rs 326.80 crore for four years, according to Hindustan Times.
