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NEW DELHI: The Board of Control for Cricket in India (BCCI) gained a substantial revenue of nearly $300 million from the previous year’s Indian Premier League (IPL), as per newly published financial documents.
Regarded as one of the wealthiest governing bodies in global sports, the BCCI’s financial success can be largely attributed to the remarkable popularity of the premier Twenty20 tournament, IPL.
Since its establishment in 2008, the IPL has not only elevated numerous players to millionaire status but has also generated billions through media rights. This unprecedented success has inspired the creation of similar leagues in cricket-loving nations around the world.Annual reports spanning the five years up to 2021-22, which were made public on the BCCI’s website, showcased an accumulated surplus of 320 billion rupees (equivalent to $2.7 billion) as of April 2022.
The financial records revealed that the IPL held in that year yielded a net income of $292 million, derived from total revenues of $771 million and expenses amounting to $479 million. These figures were substantiated by audited accounting data.
The BCCI had previously refrained from disclosing comprehensive financial information. Prior to this recent disclosure, detailed financial statements had not been made available to the public since 2017.
Former BCCI anti-corruption adviser Neeraj Kumar, who this year published a tell-all book about the board, criticised its secrecy on finances during an interview with Australian media in June.
Regarded as one of the wealthiest governing bodies in global sports, the BCCI’s financial success can be largely attributed to the remarkable popularity of the premier Twenty20 tournament, IPL.
Since its establishment in 2008, the IPL has not only elevated numerous players to millionaire status but has also generated billions through media rights. This unprecedented success has inspired the creation of similar leagues in cricket-loving nations around the world.Annual reports spanning the five years up to 2021-22, which were made public on the BCCI’s website, showcased an accumulated surplus of 320 billion rupees (equivalent to $2.7 billion) as of April 2022.
The financial records revealed that the IPL held in that year yielded a net income of $292 million, derived from total revenues of $771 million and expenses amounting to $479 million. These figures were substantiated by audited accounting data.
The BCCI had previously refrained from disclosing comprehensive financial information. Prior to this recent disclosure, detailed financial statements had not been made available to the public since 2017.
Former BCCI anti-corruption adviser Neeraj Kumar, who this year published a tell-all book about the board, criticised its secrecy on finances during an interview with Australian media in June.
“It’s a matter of great pity that we are so rich and so much money is distributed to our states and never accounted for,” he told the Sydney Morning Herald.
The BCCI auctioned broadcast and digital streaming rights for the 2023-27 IPL tournaments for an eye-popping $6.2 billion last year, with US giants Disney and Viacom among the successful bidders.
That figure is more nearly two-and-a-half times the value of its previous five-year media rights deal.
This year, the BCCI staged its inaugural women’s edition of the T20 tournament, earning nearly $700 million in combined franchise and media rights.
(With AFP inputs)
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