India, as the exclusive host of the ICC Men’s World Cup 2023, is poised to achieve significant financial gains, with projections indicating revenue surpassing 660 billion Pakistani rupees, equivalent to $2.6 billion USD. This financial windfall is set to bolster the already prosperous finances of the cricket board.
A Historic Host Nation
For the first time, India stands as the sole host of this major cricket tournament, featuring 48 matches spread across ten of its cities. Notably, Ahmedabad boasts the world’s largest cricket stadium, the Narendra Modi Stadium, with a record-breaking seating capacity of 132,000 spectators.
Revenue Sources
The financial backbone of the World Cup in India predominantly comes from television broadcasting rights, with an estimated income of PKR 360 billion. This substantial revenue is further supplemented by the influx of foreign tourists, media professionals, broadcasters, and commentators, in addition to the participation of ten foreign teams.
ICC’s Financial Framework
Under the ICC’s financial framework from 2017 to 2023, India is set to receive a significant share of the revenue. The Indian cricket board is expected to gain an additional $112 million compared to the previous model, amounting to a total of $405 million over an eight-year period. In contrast, Pakistan is projected to receive $128 million, with an annual allocation ranging from $12 to $15 million.
Fair Distribution Concerns
It’s worth noting that the current ICC financial model primarily favors India. Ehsan Mani, former PCB chairman and chair of the ICC’s financial committee, had suggested to the ICC that Pakistan and India should not be scheduled to play a group match in the World Cup. He proposed that the ICC allocate $10 million to Pakistan in anticipation of increased revenue when both teams compete in the semi-final, highlighting Pakistan’s significant contribution to revenue generation. However, the ICC did not endorse this proposal.
The statement highlights that the ICC’s financial model does not prioritize equitable distribution of income generated from the World Cup. Furthermore, it points out that Zimbabwe and West Indies, by not participating in the World Cup, may miss out on a share of the revenue, potentially impacting their cricketing prospects.
As India embraces its role as the exclusive host of the ICC World Cup 2023, the financial gains and global attention it brings underscore its significance on the world cricket stage.
