Unusual meet? BCCI set to discuss losses too
The BCCI’s finance committee, which meets in Mumbai today, will do something quite unusual. For the first time in ages the discussion will centre more around losses than profits, reports Subhash Rajta.cricket Updated: Jan 02, 2009 01:07 IST
The BCCI’s finance committee, which meets in Mumbai on Friday, will do something quite unusual. For the first time in ages the discussion will centre more around losses than profits.
The reason? The BCCI has lost revenue to the tune of around $ 10 million because of the cancellation of the India-Pakistan series this January, comprising three Tests and five ODIs.
The finance committee is led by Rajiv Shukla and includes Anurag Thakur, Vijay Mirtunjaya, Ranjib Biswal, Sudhir Nanavati, Subhash Joshi with M. P. Pandove, treasurer, convening the meeting.
“We will know the exact figure after the finance committee meeting, but it should be roughly around $ 10 million,” a BCCI official told Hindustan Times.
That is, however, an insignificant amount in comparison to what the Pakistan Cricket Board (PCB) stands to lose because of the cancellation of the series.
Even conservative estimates suggest that the PCB, which had signed a new television rights deal worth $140.5 million with the Dubai-based Ten Sports, stood to lose a whopping $20 million, or thereabouts.
The PCB, however, would be hoping to cut down the loss to some extent from the proposed Sri Lankan tour, put in place hastly after India refused to tour.
Coming back to the BCCI, there was also some loss of revenue, although not particularly significant given the BCCI’s overall financial health, when the last two ODIs of the India-England series were cancelled following the Mumbai terror attacks.
Then, the Champions League, the major money-spinner, also failed to take off, being postponed indefinitely.
The BCCI, in this case, maintained that all financial agreements remain the same as the league has been just postponed, not cancelled.