The biggest and the richest cricket board of the world, Board of Cricket Control of India (BCCI) has also started feeling the financial pinch of Covid19 pandemic. still question For the first time ever, the Indian board has admitted on record that some cost cutting measures have been taken at the BCCI end.
As the Indian Premier League season is still suspended, the IPL 2020 revenues also are currently questionable. The board in order to combat any eventuality has started cost cutting measures according to the treasurer of the BCCI.
‘There has been no pay cut or lay-off as of now. But We have cut cost on other fronts like travel, hospitality, etc,” Arun Dhumal, the treasurer of BCCI told The New Indian Express.
BCCI President hinted at ‘Pay-Cuts’ few days ago
The BCCI president Sourav Ganguly few days back admitted that the board will lose in tune of 4000 Crores if IPL 2020 can’t see the light of the day.
Can Pay-Cuts happen in Indian Cricket ? Can the richest cricket board in the world will give its players and staff salary cuts ? If the last two statements by two of the biggest officials of BCCI is any hint than the pay-cuts in the Indian Cricket can actually become a reality.
Will BCCI be in financial trouble ??
Both Ganguly and Dhumal in last few days have came on record and admitted that board will go through ‘financial troubles’ if IPL
2020 does not take place. Both have raised concerns about the financial conditions of BCCI if IPL does not take place this year.
“We will have to examine our financial situation, see how much money we have and take a call. Not hosting the Indian Premier League (IPL) will cause losses to the tune of Rs. 4,000 crore which is huge,” Ganguly told mid-day.
Not only this, the former India captain also hinted that the board might have to go on a pay-cut if the IPL doesn’t happen this year. “If the IPL takes place, we won’t have to go in for pay cuts. We’ll manage things,”
Before Ganguly, the BCCI treasurer also showed his concerns over the financial situation of the board.
“The BCCI will also be in a difficult position in case cricket does not resume soon, especially the IPL.In that case, the BCCI will also have to face a lot of financial hardships. IPL is one of the major revenue-generating tournaments’.
BCCI has got one of the most solid balance sheets in the cricket world with cash reserves which is almost close to billion dollars. No other cricket board in the world can boast of such solid financials.
BCCI BALANCE SHEET
According to the last balance sheet made public by BCCI for 2017-18
–– its cash and bank balance, as on March 31, 2018, was ₹5,526.18 crore.
– ₹2,011.83 crore was in fixed deposits.
– ₹900 crore was kept aside in escrow accounts to deal with various arbitration proceedings.
This balance sheet would have got further boosted by the IPL media rights deal with Star India who on an average pays 3065 Crores.
How much BCCI can lose in the Lockdown Scenario The below graphics by InsideSport can explain, how much BCCI stand to lose both from IPL and other sources of revenues they have at their disposal.
BCCI Assumed Revenues from Bilateral Home Series in 2020 – BCCI earns 60.1 Crore per game from Media Rights partner for every international game played at home. India as per the 2020 FTP was only scheduled to play 15 games this season. Out of that South Africa tour to India is already wiped out because of Coronavirus scare and India has already completed 3 match series each against Australia and Sri-Lanka. India is scheduled to play only 3T20 / 3ODI’S against England at home in October in only home series left this year. Assuming England series is lost, BCCI will lose 1080 Crore for year 2020 from the home series.
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