BCCI have coughed up INR 14,627 crore over the past five years as per reports
This is an increase of Rs 4,193 crore since the last financial year
Indian cricket team are still battling to win a shirt sponsor
The Board of Control for Cricket in India (BCCI) may be facing some on-field issues with the team sponsors, but the apex cricket board have strengthened it's financial side by coughing up INR 14,627 crore over the past five years, as per a report in CricBuzz.
It further stated that the BCCI made INR 4,193 cr, taking its cash and bank balance to Rs 20,686 crore.
The rise, recorded after disbursing all dues to state units, has seen the general fund almost double from Rs 3,906 crore in 2019 to Rs 7,988 crore in 2024 as per the figures shared with state associations, says a report in 'Cricbuzz'.
According to the report, the statement of accounts, submitted at the 2024 AGM, reads, "Honorary Secretary apprised the members that since 2019, the cash and bank balance of BCCI has increased from Rs 6,059 crore which was before disbursing any amount to the state cricket associations to Rs 20,686 crore which is after disbursing all amounts owed to the state cricket associations.
"Therefore, since 2019, BCCI has added Rs 14,627 crore in the last five years. This is an increase of Rs 4,193 crore since the last financial year. Further, since 2019, the general fund too has increased from Rs 3,906 crore to Rs 7,988 crore which is an increase of Rs 4,082 crore."
"It further stated that the BCCI continues to set aside huge sums for tax liabilities, provisioning Rs 3,150 crore for FY 2023-24 while contesting the matter in courts and tribunals."
"The BCCI has provisioned INR 3,150 crore towards income tax obligations for FY 2023-24. While BCCI is on the right track before the courts and tribunals, it has still made provisions towards paying any obligations that may arise towards tax," said the report.
Even as gross media rights income dipped to Rs 813.14 crore from Rs 2,524.80 crore due to fewer home internationals, investment income jumped to Rs 986.45 crore from Rs 533.05 crore, attributed to higher returns secured on deposits.
Aided by IPL earnings and ICC distributions, the BCCI posted a surplus of Rs 1,623.08 crore for 2023-24, up from Rs 1,167.99 crore in the previous year, according to the report.
For 2023-24, the BCCI allocated Rs 1,200 crore towards infrastructure development, Rs 350 crore for the platinum jubilee benevolent fund, and Rs 500 crore for cricket development.
The report said that state associations received Rs 1,990.18 crore, with Rs 2,013.97 crore projected for the current year.
The figures will be formally presented at the Annual General Meeting of the BCCI on September 28, the report said.
(With PTI inputs)
