The Board of Control for Cricket in India (BCCI) banked almost $300 million (greater than Rs 2400 crore) from final 12 months’s iteration of its Indian Premier League, newly revealed monetary paperwork have revealed.
BCCI is among the richest governing our bodies in world sport, owing largely to the runaway success of the flagship Twenty20 event.
The IPL has made millionaires of its prime gamers and generated billions from media rights since its inception in 2008, spawning quite a few copycat leagues in different cricket-loving international locations within the years since.
Annual reviews for the 5 years to 2021-22, revealed on the BCCI web site Thursday, confirmed the board had amassed a surplus of Rs 320 billion ($2.7 billion) as of April 2022.
That 12 months’s version of the IPL noticed a internet revenue of $292 million from revenues of $771 million and bills of $479 million, in line with audited account figures.
The BCCI has prevented publishing detailed funds prior to now.
Before Thursday, the board had not made detailed accounts public since 2017.
Former BCCI anti-corruption adviser Neeraj Kumar, who this 12 months revealed a tell-all guide in regards to the board, criticised its secrecy on funds throughout 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 informed 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 final 12 months, with US giants Disney and Viacom among the many profitable bidders.
That determine is extra almost two-and-a-half occasions the worth of its earlier five-year media rights deal.
This 12 months, the BCCI staged its inaugural girls’s version of the T20 event, incomes almost $700 million in mixed franchise and media rights.
Source web site: sportstar.thehindu.com
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