BCCI makes gains of ₹218 crore from bilaterals despite Covid cancellations
The Indian board has made alternate arrangements for every match lost due to the pandemic, resulting in a scheduling logjam this year.
Despite the Covid pandemic and the resulting cancellation of matches, the Board of Control for Cricket in India’s balance sheet remains healthy. And we are not counting the recent IPL media rights bonanza. The Indian board has been able to use its good offices not only to overcome the entire revenue shortfall from bilateral cancellations (2018-2023) but will end up getting an excess of ₹218 crore from broadcasters Disney Star as per a BCCI internal financial note.
Given that BCCI was staring at losses owing to IPL’s suspension midway through the 2021 season (it was completed in the UAE later), 2021 T20 World Cup relocation from India to UAE and cancellation of bilateral arrangements, the board swung into action, marrying financial muscle and shrewd diplomacy to stitch together alternate series for every match lost due to Covid.
It has resulted in a scheduling logjam in the back end of the current bilateral cycle. But India’s victory over Australia at the Gabba in 2021 has showcased the power of their bench strength. Since then, India have been deputing second-choice teams liberally home and away, softening the impact of excessive cricket. Board secretary Jay Shah has spoken of keeping a roster of 50 players ready to allow simultaneous series in different continents.
After BCCI sold the bilateral rights for a value on average of ₹60 crore per match in 2018, the first year’s contractual requirements went to plan. In March 2020, Covid struck and two home T20Is against South Africa had to be suspended.
In the following year, Covid continued unabated, but the sporting ecosystem found ways to survive by creating bio-bubbles and playing cricket inside empty stadiums. But the focus had shifted to safeguarding IPL revenue and relocation of the 2021 World Cup. India could play little bilateral cricket at home in 2020-21 with one Test against England taken off the schedule and replaced by 2 T20Is. With the ODI Super League (every country had to play eight other teams home and away for WC qualification) taken off the ICC shelves, the commercially unattractive 3-match home ODI series against Zimbabwe was cancelled. To keep Zimbabwe cricket happy, India’s reserve team will be touring the country next month.
In 2021-22, vaccines had begun to fight back against Covid, but outbreaks continued intermittently and quarantine days still ate into the calendar. BCCI’s cancellation backlog piled up with six limited-overs matches against South Africa and one Test against Sri Lanka not finding a place, resulting in a revenue shortfall of ₹541.8 crore.
In the final year (2022-23) of this bilateral cycle, the Indian board has gone the whole hog. A Rishabh Pant-led Indian team played a 5-match T20I series against South Africa in June. Having forged friendly relations with Cricket South Africa, the Proteus will be returning in October for 6 matches; 3 of these will be low-key ODIs. To be played just before the T20 World Cup, these matches in all likelihood will see second-string teams from both sides. In the first half of 2023 – an ODI World Cup year – Australia come to India for three ODIs; they will also be touring India for three T20Is this September. Six more limited-overs matches (3 T20Is, 3 ODIs) each against Sri Lanka and New Zealand at home next year will see BCCI’s coffers brimming with ₹946.7 crore more than what was estimated from the current financial year.
The broadcaster Star will end up paying ₹6356.1 crore. That’s ₹218 crore more than what was set out in the original 5-year contract, hosting one more match (total of 103) to what was planned. Have they been at the receiving end of the bargain?
Be it because of bubble fatigue or excessive cricket, India have had to field seven captains across formats in 2022 and the star players have missed several matches.
To offset losses in the revised schedule, commercial considerations have been factored in — two fewer Tests, eight fewer ODIs and 11 more T20Is, the one format which remains high in demand in the Indian cricket market.
