The Sunday News said that India is earning huge profits as the only host of the ICC Men’s World Cup 2023, a first. The giant cricket event is expected to generate around Rs660 billion in Pakistani currency, or $2.6 billion, adding to the country’s already affluent cricket board, according to a research. England’s 2019 World Cup brought $350 million to the economy. India has co-hosted World Cups with Pakistan, Sri Lanka, and Bangladesh.
First time, the country hosts the major tournament alone, with 48 matches played in ten cities, including Ahmedabad’s Narendra Modi Stadium, the world’s largest cricket venue with a record-breaking 132,000 seats. The World Cup will be funded by the ICC, hence India will solely profit. Indian media expects TV broadcasting rights to generate PKR 360 billion, the most.
India may earn $2.6bn from World Cup hosting
During the seven weeks of the World Cup, spectators would picnic with friends and family because most matches are day and night. Food, delivery, and related industries create 15,000 crores in Pakistani currency when friends and family gather. In the early matches of the World Cup, few people attended, but as the tournament proceeded, more did. Tickets for the World Cup are estimated to generate around Rs60 billion.
Many foreign tourists, reporters, broadcasters, and pundits, including 10 foreign teams, attend World Cup matches in India. Travel and merchandising might earn PKR 660 billion. Coca-Cola, Google, Indian Unilever, Emirates, Saudi Aramco, and Nissan sponsor the World Cup. Other sponsors include Asian, European, and American companies. Television ads cost PKR 900,000 each second. A ten-second ad costs PKR 9 million.
Advertising rates are 40% more than last World Cup. The ICC has announced $10 million in World Cup prize money. The victorious team in Ahmedabad on November 19 will receive $4 million, while the losing team will receive $2 million. Teams who win each group match will receive $40,000. Six teams that failed not qualify for the semi-finals will receive $100,000 each and the losing teams $800,000. According to the ICC’s 2017–2023 financial model, India will receive most revenue.
The Indian board will receive $112 million more than the previous model, totaling $405 million over eight years, and Pakistan $128 million. Pakistan receives $12–15 million annually. Former PCB chairman and ICC financial committee head Ehsan Mani said he informed the ICC that Pakistan and India should not play a World Cup group match. More money would result from both teams playing the semi-finals.
He stated he urged the ICC to set $10 million for Pakistan because Pakistan earned most of the money, but they declined. India benefits more from the present ICC financing setup. He stated Zimbabwe and West Indies would lose money from not playing in the World Cup, which would hurt their cricket. He said the ICC’s business mechanism didn’t distribute World Cup revenue fairly.