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Jayant Mundhra
•
Dexter Capital Advisors • 3d
It’s crazy that BCCI's estd revenue for 2024 is more than the combined revenues of the next five largest cricket boards! It’s a financial empire that stands unparalleled in the world of cricket, all built on one primary pillar: broadcasting. - Over 90% of the BCCI's revenue now comes from selling media rights - The Indian Premier League (IPL) is the crown jewel in this portfolio, with its broadcast rights for the 2023-2027 cycle sold for a staggering $6.2bn This single tournament now generates more revenue than most other cricket boards earn in their entire operational cycle. .. But here's a perspective few consider: the immense risk of this revenue concentration. While sponsorship and other streams have grown, their share of the total pie has shrunk. The BCCI's financial health is, therefore, overwhelmingly tied to the continued success and appeal of its broadcast properties. Any significant downturn in media rights valuations could have a disproportionately large impact on its finances. .. Meanwhile, this financial power also translates into on-field dominance. The BCCI's ability to invest in grassroots cricket, infra, and player salaries is unmatched. And, this creates a cycle of success: financial strength allows for investment in talent, which in turn leads to on-field victories, further boosting the value of broadcast rights. .. Thus, if you think of it, BCCI is not just the richest cricket board. It has created its own economic ecosystem within the sport. And, the challenge ahead will be to manage the risks of this concentrated revenue model while continuing to fuel the growth of the game both in India and globally. But yes, it’s more than clear - The future of world cricket will be written on the BCCI's balance sheet.
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