From Zee News (forgive the gratuitous photo of IPL cheerleaders):
The Board of Control for Cricket in India (BCCI), which runs the cash rich league, in its income tax returns showed that they have a ‘nil’ income for 2008-09 and earnings of just 14.86 crore for 2009-10. However, contradicting BCCI’s claims, it is believed that the gross revenue earned by the IPL during the year 2009-10 is estimated to be Rs 661 crores. The huge revenue-income gaps have forced the government to start investigations into the whole matter.
More from IBN-Live. I’m not privy to the arcane ways of India’s income tax code, but I’m pretty sure something’s amiss here. This is what I worry about when I contemplate the huge sums of money revolving around cricket. The game is taken from fans, handed over to broadcasters and corporations, who then milk the fans’ passion and return nothing back to society. Instead of being a public good, it becomes something like an exclusive club — and you’re not welcome.