Just like most successful entities or private organizations, the BCCI (Board of Control for Cricket in India) also had to go through days of hardships and grind it tough to become and sustain itself as the richest cricket board in the world.
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No wonder, with cricket in particular, or sports in general, not a field of interest for majority of the country’s populace back in 1983, the Indian cricket board was understandably short on funds on various fronts during the period.
So much so that it had found itself in an embarrassing situation after failing to pay their 1983 World Cup-winning cricketers even their share of daily allowance, forget the prize money which they richly deserved post a title triumph.
BCCI Had Resorted To Lata Mangeshkar’s Concert Post Failing To Pay INR 200 To Players In 1983
The above mentioned fact also provides more than an enough hint with respect to the futility in level of expectation BCCI had with the Kapil Dev-led Indian team which flew to England to participate in what was the third edition of the World Cup.
However, the board management did know that they couldn’t sit idle. Their team had just achieved the seemingly unthinkable – defeating defending world champions West Indies who were star-studded with players whose names are taken till date in reverence and a degree of might for the skill sets they possessed.
Thus, they turned their heads towards renowned cricket administrator Raj Singh Dungarpur, who also went on to later serve as their president between 1996-1999. A close friend of late legendary singer Lata Mangeshkar back then, Dungarpur’s mind struck with a wonderful idea.
NKP Salve, the president of BCCI at the time, had revealed in Dungarpur’s biography that the latter had went on to request Mangeshkar to do a musical concert in Delhi in a bid to raise funds for the newly-crowned cricket world champions. The ‘Nightingale of India’, who was present at the Lord’s the day India had lifted the Cup, readily agreed to the same without charging a single penny.
Along expected lines, the concert had become a massive hit. The cricketers also shared the stage with Mangeshkar as they sung in unison the song – Bharat Vishva Vijeta – composed by her brother Pandit Hridyanath Mangeshkar.
“After winning the trophy, Kapil Dev invited me for a dinner with the Indian team in London. I went there for a while and congratulated the team. The duration of the concert was four hours. I remember that all the members of the team had sung a song, specially composed by my brother Hridaynath, with me. Sunil Gavaskar and Kapil Dev were standing beside me,” Mangeshkar had remarked during an interaction with Hindustan Times.
Ultimately, the concert ended up raising a hefty amount of INR 20 lakh, with each player receiving INR 1 lakh each as their individual share.
BCCI Earned $820 Million In 2022
As for the BCCI, their rise in stature and the exponential growth in terms of wealth creation has been noteworthy. A major chunk of BCCI’s revenues and earnings are derived via media/broadcasting rights and different sponsorship.
Just a couple of months ago, the media rights to India’s international and domestic matches for September 2023 – March 2028 period were sold to Viacom 18 Media Private Limited at a staggering cumulative amount of INR 5,963 crore. As far as the IPL broadcasting rights are concerned, the board had sold the same at a whopping INR 48,390 crore for the 2023-27 cycle.
Moreover, the likes of Dream 11 (lead sponsor), Adidas (kit sponsor), SBI Life (official sponsor), IDFC First Bank Limited (title sponsor) are some of its sponsors at present for the various domestic and international matches the Indian team features in.
As per BCCI treasurer Ashish Shelar’s report for the financial year 2022-23, the board’s earnings were to the tune of INR 6,558.80 crore ($820 Million), compared to INR 4,360.57 crore during the financial year 2021-22.
The numbers are insanely significant, especially if one compares their netted income and revenue sum during the fag end of the previous century. While the revenue was not even $2 million in 1998/99, the board was, in fact, even struggling to erase off its outstanding deficit sum of $150,000 in the year 1992.
Turn the next decade, and BCCI would go on to announce revenues of over US$213 million in the financial year 2007/08. Thanks to the IPL, the numbers have only increased manifold over the next decade-and-a-half.
Moreover, while the BCCI continues to pay taxes on the revenue, no amount is levied by the government on the net profit as the board doesn’t fall under the purview of Corporate Tax. The same thereby further continues helping them increase their net income each financial year.
