BCCI on a strong wicket; income rises to Rs 652 cr
Despite a fall in income from the media rights, the BCCI has reported an overall income of Rs 651.83 crore for the financial year 2006-07.cricket Updated: Sep 30, 2007 20:41 IST
Despite a fall in income from the media rights, the Board of Control for Cricket in India (BCCI) has reported an overall income of Rs 651.83 crore for the financial year 2006-07.
After accounting for an expenditure of Rs 420 crore incurred during the year, the board has managed a healthy surplus of Rs 231 crore, according to the BCCI's annual report released here.
It was an excellent performance by the apex cricket body as the surplus for the previous year (2005-06) was only Rs 33 crore. The rise in income was attributed to higher inflow from tours and interest on fixed deposit with banks.
BCCI treasurer N Srinivasan said the income by way of media rights was down at Rs 314 crore as against Rs 341 crore in 2005-06 due to concessions granted to Nimbus in the wake of change in government rules, which asked for compulsory feed of sports events of national importance to Doordarshan.
Nimbus, which had won the media rights for telecasting matches, had requested the board for reduction in fee owing to the government stand.
The board agreed for reduction of $55 million for the entire contract period from March 2006 to March 2010. Besides, Nimbus was also given reduction of $8 million on account of radio rights fee, the report said.
The fixed deposits with banks have shot up to a whopping Rs 745 crore against Rs 545 crore during the previous year.
According to the report, the international players were paid Rs 43 crore during the year while the projected distribution for the current year has been estimated at Rs 55 crore.