India’s parliament has been told that the country’s cricket board earned a surplus of around $1.5 billion over the past five years.
The Board of Control for Cricket in India (BCCI) does not usually publish its financial affairs in detail, but it is known as one of the most profitable governing bodies in the world due to has a deep love for the sport and an intermittent bidding war for broadcast rights.
A government minister presented BCCI’s latest earnings in Parliament on Tuesday, which revealed $91.9 million in revenue and $370 million in expenses for the year ending March 2022, leaving $549.9 million in revenue. Made a surplus.
It was the board’s biggest surplus in the five years of 2017-18, which posted revenues of $3.3 billion and expenses of $1.8 billion during the same period.
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The BCCI is often said to have a monopoly on world cricket due to its greater wealth than other national cricket boards.
According to ESPNcricinfo, the BCCI will earn around $230 million annually between 2024-27, which is 38.5% of the International Cricket Council’s annual revenue of $600 million.
Last year BCCI sold the media rights of the Indian Premier League T20 tournament for $6.2 billion.
The board recently floated a tender for the media rights of its international and domestic matches, which is set to bring in another huge revenue stream.