There is no doubt in the fact that Indians love cricket more than any other sport. Cricket is nothing less of a religion for the people of India. It is the most popular sport in this country. The authority responsible for the functioning of cricket matches in India is Board of Control for Cricket in India (BCCI). BCCI is the national governing body for cricket in India. The headquarters of BCCI are located in Wankhede Stadium, Mumbai. BCCI was formed in December, 1928 as a society under the Tamil Nadu Societies Registration Act. You must have heard about huge salaries of Indian cricketers, large amount of sponsorship deals, big donations made by BCCI and many other things. There was a time it was not even possible to pay the cricketers on time. In the present time, BCCI is the most powerful authority and only because of it’s financial help, international cricket is able to survive. BCCI is responsible for almost 80% of the Cricket’s global income. But have you ever wondered Why BCCI is so rich?
Why BCCI is so rich?
Many factors have contributed to the growing net worth of BCCI. The following are the reasons as to Why BCCI is so rich :-
1. Introduction of Indian Premier League
The main crucial reason behind the immense wealth of BCCI is IPL. The introduction of IPL in 2008 was the starting of a new era in the Indian cricket. It was just a start as BCCI started to make huge chunks of money. Bollywood and Cricket came together which was loved by the Indian public. It resulted in stadiums being full and Television sponsorship reaching new heights. The corporate sector and business giants also started developing interest in Cricket. After more than a decade, India is a superpower in world cricket.
2. Fans favorite sport
Viewership was never an issue for Indian cricket. There have many instances when the foreign stadiums have witnessed more Indian fans in the stands than the native supporters. Fans play a huge role in lucrative profits of BCCI. The popularity of cricket among the fans helps in maintaining the brand image of the board.
3. Television rights
Here is an example to explain the level of money that BCCI is earning from television rights. From Oct 1 to Nov 10, 2014, Pakistan played Australia in a cricket series. The TV sponsorship deal that Pakistan Cricket Board earned from the entire 40-day tour was around 3 Million USD. Sony’s TV sponsorship for an IPL season which includes around 60 matches is roughly 180 Million USD i.e. each match goes for about 3 Million USD. If we talk about international matches, the amount works out to about 8 million USD per match.
4. No competition for BCCI
Since a long time, BCCI is the sole powerful authority and faces no competition with other market forces. Being one of the richest sports bodies in the world, BCCI also helps the ICC on financial fronts. BCCI has huge influence over the market.
5. Jagmohan Dalmiya’s decision
Some credit also goes to Mr. Dalmiya for the current position of BCCI. It was Jagmohan Dalmiya’s decision to open sports broadcasting to private channels in the country. It resulted in inflow of more money for the game and players. The timing of implementing this decision was also right. It was at that moment when cricket started growing by the late 1990s it was at its peak. Jagmohan Dalmiya also played a vital role in bringing the ICC Cricket World Cup to India in 1987 and then again in 1996.
