Credit: BCCI TV
Cricket is the most popular sport in India and the Board of Control for Cricket in India (BCCI) is reaping the benefits of the gentlemen's game’s success. The sport’s prominence has made the BCCI the richest board. Almost a year back, BCCI disclosed to state associations that it had a bank balance of INR 20,686 crore. Now with the Annual General Meeting to take place on September 28, the financial assessment of the last one year is expected to be revealed by the board.
In 2024, when the AGM was held, a crucial part of the account statement revealed that the cash and bank balance of BCCI has elevated from INR 6,059 crore in 2019 to INR 20,686 crore in 2024, which means that India’s apex cricketing body recorded income of INR 14,627 crore. "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," read BCCI’s account statement in AGM 2024, as reported by Cricbuzz.
The account statement dismissed the myth regarding BCCI
The account statement clearly dismissed the myth that the BCCI doesn’t pay income tax. It spends over INR 3,000 crore to pay taxes while continuing its appeal in various committees. "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," added the report.
The Audited Statement of Accounts 2023-24 also disclosed that the gross fees from men's senior international Tours and events have dropped to INR 361.22 crore compared to INR 642.78 crore of the previous year. The surplus of profit over expenditure recorded INR 1,623.08 crore as against INR 1,167.99 crore in the previous year.
