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ICC restructuring to add $600 mn to BCCI’s coffers
MUMBAI: Triggered by the International Cricket Council (ICC) restructuring, the Board of Control for Cricket in India (BCCI) will see a huge spike in its revenues. According to BCCI secretary Sanjay Patel, the gross revenue of India’s cricket board is expected to reach between $2.75 billion and $3 billion during the eight-year period beginning 2015.
The ICC restructuring will add an estimated $600 million to the BCCI’s coffers in the eight-year cycle from 2015 to 2023, adds Patel.
“During 2015–23, the BCCI’s expected gross revenue will be close to $2.75 billion. According to my estimate, within this period of eight years (2015–2023), we [BCCI] will get around $600 million,” Patel said.
Patel’s calculations are based on the assumption that the ICC will rake in $2.5 billion from the sale of broadcast and sponsorship rights from 2015 to 2023.
“Over the past so many years, the BCCI has become one of the biggest contributors towards the ICC’s earnings,” he averred.
For the financial year 2013, the BCCI had posted net income of Rs 3.5 billion on gross revenue of Rs 9.5 billion.