LAHORE: Though the International Cricket Council in its latest report has revealed that India’s economy got a massive boost of $1.39 billion for organising last year’s 50-over ICC World Cup, it did not share the details regarding the financial contribution of the epic match between traditional rivals India and Pakistan at the global event in Ahmedabad.
“A new economic report released today by the International Cricket Council (ICC) reveals that the ICC Men’s World Cup 2023, the biggest Cricket World Cup ever, generated an incredible total economic impact of $1.39 billion (11,637 crore Indian rupees) for the economy of India,” an ICC press release stated.
It is a well-known fact that the main source of the ICC earning in the World Cups comes through titanic Indo-Pak titanic clashes. But in return, though India had the right to receive a lion’s share from the ICC income to the tune of 38.5 percent, Pakistan’s share is just 5.75 per cent.
The main income of the ICC comes through broadcast rights, gate money and title sponsorships and some other resources.
Whenever there is an Indo-Pak match, the rate of media houses jumps significantly as compared to other matches of the World Cups. Last year, an Indian TV channel had reportedly bought the broadcast rights for the exclusive coverage of Indo-Pak matches in the World Cups for a huge amount of $3 billion for the 2023-27 period.
It is reported that India is earning $230 million annually from the ICC income of $600 million. Whereas other main countries like England, Australia and Pakistan are getting approximately $41.33 million, $37.54 million and $34.51 million, respectively.
As India is being considered the giant in the ICC because the game’s governing body receives more share from India’s sponsorships which is quite justified. But as the Indo-Pak clash is also a major source of ICC income, Pakistan should have got more share, at least more than given to England and Australia.
Different PCB heads in the past raised this matter at the ICC forum, the stance remained weak as no country came forward in its support.
Dawn understands that India has successfully silenced England and Australia — the key member countries — by playing bilateral series against them regularly, which is helping the two cricket boards generate enough funds.
On the other hand, India had long stopped playing bilateral series against Pakistan resulting in financial losses for the PCB in two ways: it is getting reduced share from the ICC income, despite being a key factor of its huge revenue and also losing the opportunity of generating funds by playing bilateral series against India.
According to a report prepared by the Indian Chambers of Commerce and Industry, the estimated revenue generated through Indo-Pak matches in the past 20 years is around 10,000 crore Indian rupees ($1.3 billion).
“The World Cup was organised by India from Oct 5 to Nov 19 in ten cities Ahmedabad [the world’s largest cricket stadium], Bengaluru, Chennai, Delhi, Dharamsala, Hyderabad, Kolkata, Lucknow, Mumbai and Pune, proved to be a catalyst for growth across various sectors, contributing significantly to India’s economy and showcasing the value of ICC events,” the game’s global body stated.
“Direct investment into staging the event from both the ICC and the BCCI combined with a programme of stadium upgrades via the State Cricket Associations delivered direct benefits to Indian businesses across a range of sectors,” read the ICC statement.
Published in Dawn, September 12th, 2024