State associations to receive over Rs 2,000 crore from BCCI as board’s bank balance touches Rs 20,686 crore

The Board of Control for Cricket in India (BCCI) once again has its reason to boast about finances, with its reserves soaring to record highs. As per a report by Cricbuzz, the board’s bank balance stood at ₹20,686 crore as of September 2024, which is a jump of more than ₹14,600 crore in the last five years.

The financial details, circulated among state associations, show that despite fluctuations in broadcast revenue, the BCCI continues to grow at an unprecedented rate. The board has also committed substantial allocations to state bodies, with disbursements of ₹1,990.18 crore made in 2023-24 and a projected ₹2,013.97 crore for 2024-25.

BCCI’s financial growth despite media rights dip

According to the report, the BCCI’s surplus for 2023-24 stood at ₹1,623.08 crore, up from ₹1,167.99 crore in the previous year. This was largely driven by the Indian Premier League (IPL) and ICC distributions, which offset a steep fall in international media rights. Gross income from home fixtures dropped to ₹813.14 crore in 2023-24 compared to ₹2,524.80 crore in the previous year, due to fewer bilateral series during the World Cup year.

A major highlight was investment income. The board earned ₹986.45 crore in interest from deposits in nationalised and private banks, almost double the ₹533.05 crore recorded in 2022-23. Former secretary Jay Shah has been credited with steering BCCI’s financial strategy to ensure maximum returns with minimal risk.

“Honorary Secretary apprised 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.

“Therefore, since 2019, BCCI has added INR 14,627 crore in the last five years. This is an increase of INR 4,193 crore since the last financial year. Further, since 2019, the general fund too has increased from INR 3,906 crore to INR 7,988 crore which is an increase of INR 4,082 crore.”

BCCI’s influx in bank balance

Tax provisions and cricket development

There’s apparently a myth that goes around cricketing circles that the BCCI doesn’t have to pay tax to the government. Challenging the perception that it avoids taxation, BCCI provisioned ₹3,150 crore towards income tax obligations for FY 2023-24 while continuing appeals in tribunals.

Meanwhile, the board has earmarked ₹1,200 crore for an infrastructure development fund, ₹350 crore for the Platinum Jubilee Benevolent Fund, and ₹500 crore for grassroots cricket development. These allocations, coupled with state association disbursements, show BCCI’s stated focus on long-term growth and support for players as well.

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