It appears that the ever-increasing wealth and coffers of the Board of Control for Cricket in India (BCCI) are as assured as death and taxes. According to a report that was sent across state associations, the Board’s bank balance as of a year ago was INR 20,686 crore.
Even if it has come to light that the BCCI is still paying income tax in the thousands of crores, that must have increased dramatically over the past year. The financial assessment of this will be presented at the AGM on September 28.
“The Honorary Secretary informed the members that since 2019, the cash and bank balance of BCCI has increased from INR 6,059 crore, which was before disbursing any amount to the state cricket associations, to INR 20,686 crore, which is after disbursing all amounts owed to the state cricket associations,” states a pertinent section of the statement of accounts that was presented at the 2024 AGM.
As a result, BCCI has increased INR 14,627 crore over the past five years since 2019.
Compared to the previous fiscal year, this represents an increase of INR 4,193 crore. Additionally, since 2019, the general fund has grown by INR 4,082 crore, from INR 3,906 crore to INR 7,988 crore.
The idea that the BCCI does not pay income tax appears to be dispelled by the research as well. While pursuing its appeal in many tribunals, it set aside more than INR 3000 crore in taxes. “INR 3,150 crore has been set aside by the BCCI to cover income tax payments for FY 2023–2024. According to the report, BCCI has made plans for paying any potential tax demands even though it is on the correct path before the courts and tribunals.
The board would have received a lot more money, but the gross media rights revenue from the BCCI’s international matches was just INR 813.14 crore, down from INR 2,524.80 million the year before. “The reason for this decline is because there were fewer international home games and series played this year than there were the year before. According to the article, the BCCI hosted the ICC CWC 2023 (ODI World Cup) from October to November of that year.
Additional salient features of the 2023–2024 Audited Statement of Accounts
Revenue from Tours: Compared to INR 642.78 crore the year before, the gross receipts from Men’s Senior International Tours and Events have dropped to INR 361.22 crore.
Income from Investments: In contrast to INR 533.05 crore the year before, the BCCI received INR 986.45 crore in interest income from bank deposits. Under the direction and assistance of Mr. Jay Shah, BCCI has successfully obtained the highest return on investment (ROI) on the market from the main nationalised and private banks with the least amount of risk.
Extra: Compared to INR 1,167.99 crore the year before, there was an INR 1,623.08 crore surplus of income over expenses. The primary cause of this increase is the rise in IPL 2023 surplus and payouts obtained from ICC.
Money: The BCCI has set aside INR 1,200 crore for the development of infrastructure, INR 350 crore for the Platinum Jubilee Benevolent Fund, and INR 500 crore for the development of infrastructure for cricket. These grants support the BCCI’s long-term goals of promoting cricket and helping its former players.
“There have been significant arrangements developed for the allocation of funds to state cricket bodies. With a projected allocation of INR 2,013.97 crore for 24–25, the total for 2023–24 is INR 1,990.18 crore,” the statement stated.
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