India is likely to get billions of dollars in revenue from hosting the World Cup 2023, India is the exclusive host of the World Cup 2023 and is reaping considerable financial benefits.
This important cricket event is likely to earn the country more than 660 billion Pakistani rupees. The amount, which totals $2.6 billion, will increase the financial assets of the Indian Cricket Board, which is already the richest board in the world.
The 2019 World Cup held in England had a positive impact of 350 million dollars on the British economy.
In the past, India had co-hosted the World Cup with Pakistan, Sri Lanka and Bangladesh. It was the first time that India hosted a major tournament with 48 matches spread over ten cities.
Among them, the world’s largest cricket stadium is the Narendra Modi Stadium in Ahmedabad, which has an amazing record-breaking seating capacity of 132,000 spectators.
The ICC will cover the cost of the World Cup from India’s primary source of revenue from the event. Indian media reports suggest that the most important revenue will come from TV broadcasting rights which will be Rs 360 billion.
Apart from ten foreign teams, a significant number of foreign tourists, media personnel, broadcasters, and observers have come to India for the World Cup.
In the ICC Financial Framework from 2017 to 2023, India is to receive a substantial share of revenue. The Indian Cricket Board is set to receive an additional $112 million over the previous model, resulting in a total of $405 million over the eight-year period. Of this, Pakistan is expected to receive $128 million with an annual allocation of $12-15 million.
Former PCB chairman Ehsan Mani, who earlier headed the ICC finance committee, advised the ICC that Pakistan and India should not play group matches in the World Cup.
Ehsan Mani requested the ICC to allocate $10 million to Pakistan in anticipation of increased revenue when the two teams compete in the semi-finals.
However, the ICC did not support this proposal. As pointed out, the current financing model of the ICC primarily favors India by statement.
It was stated that Zimbabwe and West Indies would miss out on a portion of revenue by not participating in the World Cup, which could have a negative impact on their cricket.
The statement also criticized the ICC’s financial model, saying it does not prioritize fair distribution of revenue from the World Cup.
