Mumbai, July 20 -- The Board of Control for Cricket in India (BCCI), the richest cricket body in the world, recorded a revenue of Rs.9,741.71 crore according to its 2023-24 balance sheet, recently made public. That's significantly more than Rs.6,558.80 crore from the previous year, mainly on account of the 2023-27 IPL media rights deal setting in. The current Indian Premier League (IPL) media rights valuation (Rs.48,390 crore) is a three fold increase from the previous five-year cycle. The annual two-month long IPL continues to be BCCI's biggest draw, accounting for nearly 60 percent (Rs.5,761 crore) of its annual revenue. The next biggest chunk of revenue comes from distribution of International Cricket Council (ICC) revenue - Rs.1,042.35 crore, which makes up a little about 10 percent of income. The balance sheet makes it clear that, for now, this computation is based on 2016-23 ICC revenue. Of late, the BCCI has been able to win for itself a much larger chunk from the ICC pie (38.5%) - in the region of Rs.2,000 crore per year. This revision was based on BCCI's successful argument that well above 80% of revenue for ICC events is generated from the Indian market. BCCI's fixed deposits and investments rake in Rs.987 crore in interest income. That accounts for another 10 percent of revenue. The next significant revenue chunk (Rs.813.14 crore) - about 8.3 percent of revenue - comes from other BCCI media rights income, that's mainly all-format international cricket played in India. The last revision in BCCI rights saw a modest 13 percent rise. With the changing landscape of international cricket likely to affect bilateral cricket the most, this income may come under stress in the future. For cricket boards outside the Big three (India, England and Australia), bilateral cricket has already become a loss leader and they rely heavily on ICC income to run the show. The Women's Premier League (WPL) revenue accounts for 3.9 percent which comes down to Rs.378 crore on a per year basis. Modelled on the IPL, WPL is BCCI's latest property that generated Rs.951 crore media rights proceeds for the 2023-27 cycle. All things considered, the IPL continues to remain the cash cow for Indian cricket, generating the most eyeballs and subsidising cricket played by India for the rest of the year. It's one of the main reasons, the talk for an IPL expansion, a possible second leg to be run in the year remains in consideration. With media rights being the primary drivers of BCCI revenue, a lot of it would depend on how the evolving media landscape settles. In the last cycle, TV and digital rights generated equal revenue. TV rights numbers may come under pressure in the future. Besides rights holders Disney Star and Viacom 18 have become a merged entity, placing further pressure on future valuations....