World Cup- The cash cow is finally milked

INDIA has been a cash cow for ICC for the past 2 decades now. With India winning the world cup this time, ICC has realised unprecedentedly high revenues. While the cost of holding the mega event was a modest 571 Cr. The projected revenue was a whopping 1476 Cr. Don’t be surprised if the revenue figure gets revised upward in days to come. While these are official figures of ICC, actual money churned in the event is much higher. Black marketers made a merry by selling tickets at 20 times their actual value.

Bulk of the revenues for ICC came from sponsorships and telecast rights. While the sponsors should be happy to see their brands gain visibility, the revenue realisation in actual came for ESPN Software India Pvt. Ltd. which had the official  rights to telecast 49 world cup matches on its channels ESPN, Star Cricket and Star Sports. Experts suggest that the cricket jamboree has gained advertising revenue of 1000Cr from the mega event. Revenues of this order could only be realised because India reached the finals and after playing 3 high tension games against Australia and Pakistan. While the advertisement spot rates for a 10 second slot were 10-20 in the quarter-finals and semi-finals, the figure went up to 40 lakhs for the finals.

ICC’s strategic move of auctioning memorabilia of world cup has paid off big time. Cricket fanatics were presented with a ‘never before and potentially never again opportunity’ to own a piece of world cup history. One could own anything from the actual ball used in the match to a replica world cup trophy. Even toss coins were specially designed and minted for the purpose.

Questions are being raised over the 45 Cr tax exemption granted by GOI to the  cricketing super body ICC, but officials say that this was required by law. The Indian team has been showered with mega-bucks and tax sops coming from ICC, BCCI, GOI and from various state governments.

What a hoopla this world cup has created! It will not only be remembered for an Indian world cup win in India, but also for big money generated on the ‘project’. 

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