BCCI made Rs111 crore surplus in fiscal 2016: Annual report
Mumbai: The Board of Control for Cricket in India (BCCI) made a surplus of Rs111.83 crore in fiscal 2016, a fall of over Rs55 crore compared to the preceding fiscal, its treasurer Anirudh Chaudhry said.
“In the year under consideration, the surplus of income over expenditure was Rs111.83 crore as against Rs166.87 crore in the earlier year,” Chaudhry said in the BCCI’s annual report for 2015-16.
“The drop in surplus was mainly due to distribution of additional amount due to associations, additional payments to players and absence of income from Champions League T20 Tournament (that has been scrapped) and in spite of increase in total income as compared to previous year,” he said.
In the current fiscal (2016-17), the budgeted surplus was estimated at Rs509.13 crore, according to the BCCI treasurer. He said the expenses on cricketing operations (excluding Champions League T20, or CLT20) rose from Rs311.21 crore to Rs370.04 crore.
The provision for gross revenue share payable to players also went up from Rs10.47 crore to Rs56.35 crore due to corresponding increase in gross revenue income, he said.
The annual gross receipts at the end of 2015-16 from the men’s senior international tours/tournaments rose to Rs149.44 crore as against Rs120.78 crore in 2014-15 due to increase in international fixtures on Indian soil during 2015-16.
Gross media rights and franchisee consideration receipts from IPL (Indian Premier League) 2015 were Rs1069.75 crore as against Rs999.6 crore last year. Chaudhry attributed this jump to the increase in media rights income.
The BCCI received a compensation of Rs1607.58 crore (net of payment made to foreign boards) on account of termination of rights agreement following the discontinuation of CLT20.
Gross media rights income from BCCI’s international fixtures went up from Rs388.80 crore last year to Rs648 crore, due to increase in number of matches held in India, according to Chaudhry.
Receipts from International Cricket Council/Asian Cricket Council’s share of distribution/participation fees were pegged at Rs163.11 crore as against Rs54.15 crore in the previous year.
This rise in income is mainly due to receipt of funds for the ICC World Cup 2015 held in Australia and New Zealand, according to the annual report.
Interest income on bank deposits held by the BCCI also saw an upward trend from Rs85.94 crore to Rs175.48 crore during the year. “The receipts in the financial year are substantially high due to the receipt from CLT rights holders towards compensation for termination of the CLT-20 Tournament,” Chaudhry said.
“Further, on account of efficiency of operations and better interest rates negotiated by the office, the interest yields were the best in spite of the fall of interest rates and being conscious of the necessity of keeping the risk element to the lowest,” he added.
The BCCI has increased infrastructure subsidy to its affiliated units from Rs50 crore to Rs60 crore, he said.