Win Projections to be updated soon
India’s performance in the 2023 ODI World Cup was outstanding.
The ‘Men in Blue’ lost their summit match against Australia at the Narendra Modi Stadium in Ahmedabad, despite having won ten straight games. For the first time, the 13th ODI World Cup was hosted solely in India. Numerous enterprises experienced significant financial gains as the nation, enthralled with cricket, enthusiastically embraced the premier event.
According to disclosures of payments made by the cricket board exceeding Rs 25 lakh that are available on its official website, the companies in the advertising, airline, and hotel categories received the largest payments from the Board of Control for Cricket in India (BCCI) between August and November 2023. During this time, the BCCI signed the most valuable contract with sports marketing business TCM (Twenty First Century Media). They made an incredible Rs 38.60 crore. Of this substantial sum, Rs 3.40 crore went toward planning the final’s mid-innings ceremonial, with the remaining amount going for PR and marketing services for the whole competition.
On its website, the company states that it was the official agency in charge of producing and managing the static signs at all ten stadiums during the cricket match. With payments of Rs 23.47 crore, media investment firm GroupM—which helps companies plan their advertising strategies—was ranked second on the list, as per the BCCI’s disclosures. With payments totaling Rs 8 crore, Airline Vistara ranks third on the list. DNA Entertainment is next with payments totaling Rs 6.9 crore, and Akasa is at Rs 3 crore.
The remaining significant payments were made to SpiceJet for Rs. 2, crore, ITC Hotels for Rs. 2.5 crore, and ground transportation provider KTC India Pvt Ltd for Rs. 2.9 crore. This list may change soon since certain debts may not have been paid off by the end of November or may have been divided into smaller payments totaling less than Rs 25 lakh. According to the records, air travel accounted for a significant portion of BCCI’s Rs 16 crore payment for the main event. Payments of Rs 2 crore and Rs 90 lakh, respectively, were also given to charter flight companies such as Air Charter Service India Private Ltd and Corporate X.
For the course of the Cricket World Cup, the hotels received payments from the BCCI totaling Rs 10.4 crore. The largest transactions were secured by hotels such as the Radisson Blu Dharamshala, Leela Palace Chennai, Trident Nariman Point, and ITC Narmada Ahmedabad, which received payments of Rs 1.50 crore, Rs 99 lakh, Rs 95 lakh, and Rs 86 lakh. The richest cricket board in the world has paid security solutions business Eagle Hunter Rs 1.6 crore.
Of all the state associations, the Tamil Nadu Cricket Association made the most money overall.
For organizing the 10-team tournament, the cricket associations of Delhi, Himachal Pradesh, Bengal, Uttar Pradesh, Gujarat, Mumbai, Maharashtra, and Karnataka were each paid Rs 10.80 crore. With Rs 11.80 crore, the Tamil Nadu Cricket Association (TNCA) was the biggest grosser. While Hyderabad, which was not granted the opportunity to host an Indian cricket match, received Rs 8.10 crore, the cricket associations of Assam and Kerala only received Rs 2.70 crore apiece.
Following a decline in earnings the year before as a result of the pandemic that limited the number of tournaments, BCCI had a significant increase in earnings in FY23. At the September 2023 Annual General Meeting, BCCI Treasurer Ashish Shelar stated that the cricket board’s revenue for the most recent fiscal year was Rs 6,558.80 crore, which was an increase from Rs 4,360.57 crore for the fiscal year 2021–2022.
Additionally, the BCCI reported an increase in revenue to Rs 2,198.23 crore for the current fiscal year (FY24). The cricket board reported revenue of $919 million (about Rs 7,568 crore at current exchange rates) and expenses of $370 million (about Rs 3,077 crore) for the fiscal year ending in March 2022, with a surplus of $549 million (about Rs 4,549 crore), as per the BCCI’s earnings submitted to Parliament in August of last year. Between 2024 and 2027, the cricket board is projected to make about $230 million (Rs 1,913 crore) a year, or 38.50 percent of the $600 million (Rs 4,990 crore) in yearly earnings made by the International Cricket Council.
Brokerage firms’ estimates highlighted the World Cup’s substantial impact on the Indian economy. A Kotak Securities analysis predicted that the cricket tournament will boost the Indian economy by about Rs 13,500 crore, while economists from Bank of Baroda predicted that it would add $2.6 billion (Rs 21,622 crore) to the nation’s GDP last year. The industries that benefited most from the 2023 Cricket World Cup were retail, food and beverage, travel, hospitality, media and entertainment, and media.
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