The Board of Control for Cricket in India (BCCI)‘s treasury has increased by nearly Rs 6000 crore in the last three years, the Board’s outgoing treasurer Arun Dhumal informed the members at the Annual General Meeting on Tuesday.
In his note, Dhumal mentioned that when the current team took charge of the Board from the CoA in 2019, the BCCI’s coffers had funds of Rs 3648 crores. “We are handing over an organisation that sits over a treasury of Rs 9629 crores of funds, which is roughly thrice of what we got at the time of our taking over from CoA. This is remarkable in the light of the fact that the disbursement to the state associations has seen a jump of nearly 5 times; from Rs 680 crores during the CoA tenure to Rs 3295 crores now to the state associations,” Dhumal said in a note during the AGM.
This, Dhumal pointed out, has happened because of the e-auction of the broadcasting and digital rights of the IPL from the business cycle of 2023-27, which fetched Rs 48,390 crores, and the valuation of the two new IPL franchises-Gujarat Titans and Lucknow Super Giants, which were auctioned for Rs 12,715 crores.
“Another significant milestone was achieved in the sphere of tax litigation in the current financial year. The BCCI succeeded in persuading the Income Tax Tribunal at Mumbai that it carries on activities of public utility and consequently, the BCCI deserves concessionary tax treatment under the income tax law. This judgement has the potential to save hundreds of crores in tax payments every year that have been unreasonably levied and collected from the BCCI,” Dhumal, who is now the IPL Governing Council chief, said in his note.
The Board also plans to appoint a new Cricket Advisory Committee at the next apex council meeting. Once that’s done, the CAC can appoint a selector from the west zone, a position that has been lying vacant since February.
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