The Board for Control of Cricket in India, or the BCCI is a force to be reckoned with in the cricketing world, to say the least.
It generates the most revenue amongst all the cricket boards, and is the body which contributes more than 70% of the sport’s global income. The reasons are diverse and numerous, but the chief among them, as many of you might have guessed, is IPL.
Picture: CSK winning the trophy in 2010
The 8 weeks or so contest is a bonanza of cricket, entertainment and money; witnessing players, as well as spectators from all over the globe.
It is one amongst the top sports League in the world on the basis of revenue, and the top amongst the cricketing leagues. It is a major money spinner for the BCCI, accounting for the most of its revenue in a year.
But, with the COVID-19 threat looming large, and all cricket being at standstill at the moment. The League has been postponed indefinitely, without much hope of it starting anytime soon, as per Saurav Ganguly, the current BCCI President.
So, what impact will the no-cricket season have on the biggest board in the world?
As mentioned above, the Indian Premier League has been postponed indefinitely, and that is a big blow, not only for the BCCI but for the overall cricketing community.
The Multi-billion dollar valued league has become one stop destination for the players, young and established alike, to prove their mettle in front of hundreds of thousands of spectators.
The boards get money from the broadcasting rights that the channels fight over.
The players too, want to play in the league for the money that they get.
The Cricketing countries that take part in the league, get a part of the revenue too; and all things come together to build the popularity of this mammoth league.
No doubt, the impetus that the league holds is tremendous. Not only financially, but for the overall prominent of the sport in the world.
A report by Economic times suggests that the cancellation of IPL could cost BCCI Rs. 3869.5 crores of broadcasting and sponsorship revenue.
Let’s hope we don’t have to see that stage.
•Postponed International and Domestic Matches
The Indian cricketing schedule is believed to be the busiest in the world, at the International as well as the domestic levels.
More the cricket they play, higher will be the revenue for BCCI, because it is a well known fact that Indian fans are one of the, if not the most enthusiastic fans in the world.
It is not a strange sight to see Indian fans outnumbering the fans of the home team.
Picture: This is a Cricket match in England.
The gigantic number of people that come to watch the Indian cricket team play, no matter at which corner of the world, adds to the revenue of the home team.
No wonder most countries want to have a bilateral series with India.
Not only the international fixtures, the domestic channels of the sport in the country is also very packed.
The Domestic season begins in August and carries on till the September of next year, filled with matches and various competitions, like the Duleep trophy, Vijay Hazard Trophy, Deodhar Trophy and lot more, encapsulating a whopping 2036 matches between them all.
The prime event of the domestic calendar is the Ranji Trophy with 38 teams and 162 matches.
All these will have to take hold. Or at least, take a significant cut in the number of matches played, along with the travel of the players.
FINANCIAL STABILITY OF THE BOARD:
Cricket Australia’s staff salaries have been cut by 80%, Experts suggest that it was mainly due to ‘careless planning’ as they invested heavily in the equity market.
However, the situation is not as grim, atleast for BCCI.
“We are not allowed to invest in equities” BCCI treasurer told The Hindu. He further assured that the board has had always parked excess funds with assured returns.
He further provided specific numbers too, revealing that the board has around Rs. 2,012 crores in fixed deposits and Rs. 900 crores in escrow accounts too.
The revenue from the media rights is also a fixed source of revenue with Star India paying Rs. 3,270 crore annually on average.
“Obviously there will be some ramifications. We will have to wait till cricket resumes to assess the actual impact,” Arun Dhumal reportedly said.
Presently though, BCCI is unlikely to have pay cuts for its staff, players or even coaches.
Though the whole of the board is cautious and says it’s too early to judge, it is confidently remarked that even if a curtailed edition of IPL takes place at the end of the year, BCCI, and the Indian cricket, with the steady rate of incoming revenue and smart investing tactics, is unlikely to suffer financially in the recent future.
“Even in the worst-case scenario, the BCCI will try and protect the staff and cricketing fraternity, and do its best to minimise the impact on our cricketers and administrative staff,” Dhumal concluded in his talk with The Hindu.
THE STEPS FORWARD- minimising impact :
BCCI’s ability to cope with this financially difficult time, should not blind our eyes towards the whole cricketing fraternity, and towards the boards which are not that financially strong.
So, the board, in the recent meeting with ICC has put forward a plan to help out countries, which are likely to incur huge losses in these trying times.
BCCI secretary Jay Shah has promised solutions that include India playing more matches with smaller teams, once the situation normalises.
The rationale behind this is already mentioned above.
The huge crowd that Indian team attracts, wherever it plays is bound to help countries financially. The media rights for those series, will also be a factor that the Boards will likely keep in mind.
Furthermore, it is also promised that a part of the proceeds from the matches. When held in India will be given to the other nations as well.
All of these steps are necessary. Just To make sure that the cricketing world gets up and running as soon as these times are over.
And in that, the Board of Control of Cricket in India, will have to play a pivotal role.