The Board of Control for Cricket in India, held an emergent meeting by its Apex Council this Friday, appointed Achal Kumar Jyoti, who earlier served as Chief Election Commissioner, as the electoral officer for elections to the position of secretary and treasurer later this year. Recently, these two important positions became vacant when Jay Shah quit the post of secretary as he assumed the ICC chairman on 1st December, and Ashish Shelar, the treasurer, quit for a seat in the Maharashtra new cabinet.
BCCI Sees Significant Financial Growth
The BCCI’s financial position has strengthened considerably, with its bank balance soaring by around Rs 4,200 crore, bringing its total earnings to a massive Rs 20,686 crore. This growth is largely attributed to the revenue generated from IPL media rights and bilateral cricket rights. As the largest cricket market in the world, India also benefits from a significant share of revenue generated by the International Cricket Council (ICC).
BCCI Getting Richer & Richer
In June 2022, the BCCI won a massive deal for IPL media rights worth Rs 48,390 crore for five years. According to a BCCI document, the board’s cash and bank balance has risen from Rs 16,493 crore in FY2023 to Rs 20,686 crore in FY2024, which is an increase of Rs 4,200 crore. The BCCI had estimated Rs 7,476 crore in projected earnings for FY23-24. However, actual revenue comes at Rs 8,995 crore. Additionally, the general fund has grown from Rs 6,365 crore to Rs 7,988 crore.
BCCI’s Financial Outlook For FY24-25
Looking ahead, the BCCI is likely to generate Rs 10,054 crore in FY24-25, with a budgeted expenditure of Rs 2,348 crore. The board’s 38 state units are very dependent on its annual grants, and the budgeted amount allocated for these associations stands at Rs 499 crore. This financial strength enables the BCCI to support the cricketing ecosystem across India, ensuring continued growth and development of the sport at all levels.
Seat Of Secretary & Treasurer Vacant
As per the BCCI’s constitution, the board is mandated to call a Special General Meeting within 45 days of the resignation of an office-bearer and to nominate an electoral officer at least four weeks ahead of the elections. Achal Kumar Jyoti, a retired 1975-batch Gujarat cadre IAS officer, was the Chief Election Commissioner of India from July 2017 to January 2018. In the meanwhile, Assam’s Devajit Saikia is holding the post of interim secretary while that of the treasurer remains vacant.
Elections To Be Conducted
“As the posts of Honorary Secretary and Honorary Treasurer have been vacated, the same are required to be filled up for the remaining period at a Special General Meeting by way of elections,” reads an official Board document which is in PTI’s possession.
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Former Election Commissioner Of India To Conduct BCCI Elections
“In this regard, the Apex Council is requested to approve the appointment of Mr. Achal Kumar Jyoti, former Chief Election Commissioner of India, as the Electoral Officer to conduct BCCI elections at a Special General Meeting,” it added.
(With PTI Inputs)
