So the World Cup has started and everybody is guessing who will be the winner this time. Is it going to be the good old Aussies, will we see a new champion emerge, or will India carry on the tradition of the home team winning from the last 3 World Cups?
These all are great questions but the answer is - whoever wins, BCCI will be the ultimate winner, and here's why-
Whenever such a sports event happens, where multiple nations are involved, stakes become higher, risk becomes higher and rewards can also become higher. Because to conduct such events lots of things need to be in check, such as - accommodations and food for participants, traveling, broadcasting, sponsorships, government involvement, etc. So, the governing body (which is BCCI in this case) has to coordinate with multiple organizations from different industries, and as the BCCI is the designated host, they have the authority to negotiate heavy deals with these companies, and in most cases they either the decided amount upfront, or they take some part of the revenue generated.
For example - BCCI has earned around $3bn by selling the broadcasting rights to Disney Star for the period of 2023-2027. Then comes the sponsers, advertisment rights, merchandise, ticket sales, which will few more billions to the BCCI's kitty by the end of this world cup. Just imagine the reveue generation capablity of an event where just the prize pool is more than $10mn.
Not just BCCI, the whole economy of India is expected to be boosted by around $2bn by the end of this world cup. We all have heared about ticket prices for India vs Pakistan match going upto half a million rupees, and people booking hospital beds and all the hotels are already packed.
So, finishes off in style, party will definately begin in BCCI's dressing room.