BCCI records Rs 111 crore surplus in fiscal 2016
Sep 24, 2016 at 11:39 AM
The Board of Control for Cricket in India has made a surplus of Rs. 111.83 crore in the last fiscal. However, it is Rs 55 crore less than the surplus that the board recorded in the previous fiscal. Anirudh Chaudhry, the BCCI treasurer, revealed it in his annual report for 2015-16. Mr. Chaudhary cited various reasons for the dip in amount. He stated that the board experienced a drop because of distributions of the additional amount to different associations, additional payments to players and absence of Champions League t20.
“In the year under consideration, the surplus of income over expenditure was Rs 111.83 crore as against Rs 166.87 crore in the earlier year,” stated Chaudhry.
“The drop in surplus was mainly due to the distribution of additional amount due to associations, additional payments to players and absence of income from Champions League T20 Tournament (that has been scrapped). All this despite an increase in total income as compared to previous year,” he stated.
The treasurer revealed that surplus budget in the current fiscal will be at Rs 509.13 crore. Mr. Chaudhary said that the rising expenses are the reason for it. He revealed that the expenses on cricketing operations (excluding Champions League T20) rose from Rs311.21 crore to Rs370.04 crore.
The amount of gross revenue share to be paid to the players has also seen a rise. The players will now receive Rs. 56.35 crore as compared to Rs. 10.47 crore. The annual amount of men’s international tours and tournaments has also seen an increment. In 2015-16 it was Rs 149.44 crore as compared to Rs 120.78 crore in 2014-15.
The board recorded a rise in the amount they received in 2015-16 for media rights of IPL as compared to the amount they got for the same in 2014-15. It also 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. The interest income on bank deposits of the board also saw an impressive jump as it increased from Rs 85.94 crore to Rs175.48 crore.
“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 stated.
“Further, on account of the 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.