The Indian team that won the T20 World Cup will receive a whooping Rs 125 crore, according to a recent announcement from the Board of Control for Cricket in India (BCCI). This substantial payout was anticipated given that the BCCI is the richest cricket board in the world. Here, we’ll focus on BCCI’s net worth.
The BCCI, India’s cricket governing body, was founded in December 1928. The board has become the richest cricket board in the world as a result of its enormous growth in size and power over the years. In addition to managing the Indian cricket team, the BCCI is in charge of organizing domestic cricket competitions such as the Indian Premier League (IPL) and the Ranji Trophy. The IPL LED stumps used in the tournament are also extremely expensive given the financial wealth of the BCCI.
BCCI being so rich also means that the stakes in the IPL cricket betting activity are extremely high.
The Indian Cricket Board’s astounding net worth
As per NDTV, the BCCI’s total net worth is approximately Rs 19,000, or USD 2.25 billion. According to Cricbuzz, this is far more than the value of Cricket Australia, the second-richest cricket board, which is estimated to be around Rs 660 crore.
The BCCI’s enormous net worth has been largely attributed to cricket’s enormous popularity in India. Almost one billion people call India home, and a sizable portion of them are ardent cricket fans. Large match viewing resulting from this large audience can lead to profitable broadcasting arrangements.
For the fiscal year 2021–2022, the board brought in Rs 7,606 crore in revenue while incurring Rs 3,064 crore in expenses, as reported by Mint. The BCCI paid an income tax of Rs 1,159 crore for that same year. Its income in 2020–2021 was Rs 4,735 crore, while its expenses came to Rs 3,080 crore. These are the figures of BCCI’s net worth in rupees.
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How does the BCCI make money?
Media rights, sponsorship rights, ICC revenue share, and ticket rights are the four main revenue streams for the BCCI.
Rights to the media and sponsorship
According to the Economic Times, Star Sports India outbid Reliance and Sony with an offer of Rs 6,138 crore for the BCCI media rights for television and digital platforms in 2018, securing the rights for the period from 2018 to 2023.
The BCCI’s media rights for TV and digital platforms were purchased by Viacom18 in August 2023 for a total of Rs 5,963 crore, with the agreement valid from September 2023 to March 2028. They do not, however, air ICC events because Star Sports andDisney+ Hotstar still own the media rights to them.
The IPL media rights: staggering figures
The 2023–2027 IPL media rights were sold for an incredible Rs 48,390 crore in 2022. According to Financial Express, Star paid Rs 23,575 crore for the broadcast rights to the Indian subcontinent, while Viacom18 paid Rs 23,758 crore for the digital rights. The IPL rose to the position of second-most valuable athletic event in the world because of this agreement.
The BCCI receives income from sponsorship agreements as well. The board declared IDFC First Bank Limited to be their new three-year title sponsor in August 2023. According to Mint, IDFC Bank is paying the BCCI Rs 4.2 crore for each match as part of this agreement. Hindustan Times reports that Paytm, the previous title sponsor, paid Rs 326.80 crore over four years.
Adidas became the official kit sponsor of Team India when the board and the sportswear company inked a five-year deal in May 2023. Adidas is paying the BCCI Rs 75 lakh every match as part of a deal worth over Rs 250 crore, according to the Economic Times. Compared to the previous sponsorship with Nike, which paid Rs 88 lakh per match, this is somewhat less.
Furthermore, last year, the BCCI and fantasy gaming website Dream11 worked out a five-year agreement for Dream11 to sponsor Team India’s jerseys till 2027. This sponsorship agreement is estimated to be worth approximately Rs 358 crore by Business Today.
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Rights to match tickets and sales of merchandise
India boasts some of the world’s biggest cricket stadiums, which are frequently packed during games. Another source of revenue for the BCCI is ticket sales. The BCCI declared in August 2023 that BookMyShow would serve as the ticketing portal for the 2023 ICC Men’s Cricket World Cup. Paytm was revealed as the IPL playoffs’ ticketing partner earlier this year. To be designated as the official ticketing partner, these platforms must provide a specific financial payment to the board.
Another source of revenue for the BCCI is the sale of cricket memorabilia, team shirts, and other items. These items are quite profitable to license.
Revenue share of ICC
The BCCI received a substantial increase in its portion of ICC funding in July of last year. According to Mint, the board is expected to receive almost $230 million (roughly Rs 2,000 crore) from the ICC between 2023 and 2027. This is nearly 38.5% of the ICC’s entire projected earnings.
On the other hand, the Pakistan Cricket Board, Cricket Australia, and the England and Wales Cricket Board will split the earnings between them, ranging from 6 to 7%.
In the previous cycle, which ran from 2015 to 2023, the BCCI made $46.7 million (about Rs 390 crore) a year, or 22.8% of the ICC’s net yearly earnings.
The rise of BCCI as a financial powerhouse has also strongly boosted the excitement when it comes to betting on the IPL.
Just so you know
If you like reading this article about the BCCI’s net worth, check out the IPL 2024 Orange Cap List page to learn more about the IPL.
Frequently Asked Questions (FAQs)
1) What is the BCCI’ valuation?
Compared to other major cricket boards that have $364 million in total value, BCCI is valued at $2.25 billion. The significant disparity in wealth demonstrates the BCCI’s strength and influence over the development and evolution of international cricket.
2) What is BCCI’s annual income?
The BCCI and the International Cricket Council split the majority of the council’s earnings. One of the richest sports leagues in the world is the IPL, which is managed by BCCI. During the 2023-2024 fiscal year, BCCI brought in ₹18,700 crore, or US$2.2 billion.
3) Does BCCI pay IPL taxes?
According to Section 12A of the Income Tax Act of India, the BCCI is recognized as a charity organization. As long as the money is used to further the goal of promoting cricket, they are exempt from paying income tax on their IPL profits.
