The Board of Control for Cricket in India, popularly known as the BCCI, is the biggest and most powerful cricket board in the world. Most of the BCCI’s power comes from the financial muscles they have. When the sports arena including cricket was suffering and going through the tough times of the pandemic, the BCCI was controlling the damage. While domestic cricket took a hit as most of India’s premier domestic competitions were postponed, the Indian Premier League came to the rescue after garnering some record-breaking numbers. During the financial year 2020-21, the BCCI earned a mammoth sum of INR 1522.01 crore by organizing the cash-rich league. In this post, we will try to know more about BCCI’s Net Worth in 2022.
BCCI’s Net Worth
The BCCI’s revenue has taken a dip in the last few years. However, it hasn’t affected the apex board’s work at all. In fact, the BCCI’s net worth in 2022 has grown significantly to surpass INR.18000 crore. When the first wave of the Covid-19 outbreak enforced the lockdown across the country in early 2020, the board’s entire wealth stood at a valuation of INR 16,417.17 crore. However, just in a span of one year, the BCCI managed to clock a turnover of INR 18,011.84 crore in 2021. It clearly shows the efficient work of the Indian board and tells the world why the BCCI is the richest cricket organization on the planet.
IPL: BCCI’s jackpot since 2008
The BCCI hit the jackpot in 2008 by launching the Indian Premier League and taking its revenue to record-high year after year. The craze for the mega-league is just surpassing expectations with every season. For the IPL 2022, the official broadcasters of the IPL, the Walt Disney Company India (formerly Star India) had to pay an extra 30% for the media rights as the number of matches was increased to 74 instead of 60 with the addition of two new teams.
In fact, to the surprise of many, the IPL 2021 and IPL 2020 proved to be more profitable for the BCCI than the earlier IPL editions despite covid restrictions. The factors like reduction in travel time and costs, accommodation costs could be the reason behind it. The last two seasons were mostly played in the UAE and all games were centred in only three stadiums. Meanwhile, if we talk about the broadcasting revenue, the board earned less from the bilateral series.
The BCCI had a significant cost reduction in the IPL 2022 as well. The whole tournament was played across four different venues in Mumbai and Pune. Meanwhile, the Indian cricket board has smashed it out of the park for a maximum by fetching a record-breaking price for the IPL 2023-2027. The IPL media rights for 2023-27 were sold for a total of INR 48,390 with TV rights accounting for INR 23,575 crore and digital fetching INR 23,758 crore for 410 matches.