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BCCI earned Rs 11.94 bn from IPL 2013

MUMBAI: The Board of Control for Cricket in India’s(BCCI) revenue from the Indian Premier League (IPL) 2013 edition jumped to Rs 1194 crore (Rs 11.94 billion) as against Rs 892 crore (Rs 8.94 billion) in the year-ago period due to a rise in earnings from media rights, the cricket board’s treasurer Anirudh Chaudhry said in the annual report.

The revenue from media rights jumped to Rs 844 crore (Rs 8.44 billion) during financial year 2013–14 compared to Rs 556 crore (Rs 5.56 billion) in the corresponding fiscal. The revenue from franchise fee rose marginally to Rs 502 crore (Rs 5.02 billion), from Rs 460 crore (Rs 4.6 billion) in the earlier year.

The major chunk of media rights revenue has come from IPL South Asia broadcast rights-holder Multi Screen Media (MSM) and Times Internet Ltd (TIL), the new media rights-holder.

Rights income from Champions League T20 and matches held in India

The rights income from Champions League T20 has gone up to Rs 327 crore (Rs 3.27 billion) in FY14, from Rs 279 crore (Rs 2.79 billion) in the trailing fiscal.

However, revenue from gross media rights has gone down substantially to Rs 419 crore (Rs 4.19 billion) from Rs 774 crore (Rs 7.74 billion) due to lesser number of international matches at home.

Star India holds the broadcast rights to international and domestic matches played in India. The broadcaster is paying Rs 322.5 million per match for India’s home matches.

Players have to bear the brunt of lesser media rights income as the provision for gross revenue share payable to the players has gone down from Rs 49 crore (Rs 490 million) to Rs 11 crore (Rs 110 million) in the current year.

Income from international tours

The annual gross receipts for the year ended 31 March 2014 from international tours are at Rs 193 crore (Rs 1.93 billion) as against Rs 216 crore (Rs 2.16 billion) a year ago. Receipt from ICC share of distribution remained at Rs 33 crore (Rs 330 million).

Matters relating to Sahara and Nimbus

The BCCI had also invoked the bank guarantee given by Sahara Adventure Sports, the owner of IPL Pune franchisee, to recover the balance franchisee consideration of Rs 133 crore (Rs 1.33 billion).

During the financial year, as per the order of the Supreme Court, the three bankers of Nimbus, which had provided the bank guarantees of Rs 1,600 crore (Rs 16 billion), together paid Rs 400 crore (Rs 4 billion) to the board against an undertaking that in case the decision goes against the BCCI, the said amount would be returned along with the applicable fixed-deposit interest.

The banks had earlier not honoured the invocation of the bank guarantees by the board and had challenged the invocation in the Supreme Court.

BCCI’s fiscal performance

The surplus of income over expenditure for the fiscal under review was Rs 526 crore (Rs 5.26 billion) as against Rs 319 crore (Rs 3.19 billion) during 2012–13, before any appropriation.

The BCCI has estimated the budgeted surplus to be Rs 391 crore (Rs 3.91 billion) in the current financial year 2014–15.

The BCCI also saw a reasonable increase in interest income from Rs 85 crore (Rs 850 million) in the last fiscal to Rs 120 crore (Rs 1.2 billion) for the current fiscal.

This is mainly because of better treasury operations in getting better-negotiated interest rates for the short-term deposits and efficiency of operations.

 

The expenses on cricketing operations went down marginally to Rs 516 crore (Rs 5.16 billion) from Rs 551 crore (Rs 5.51 billion).

 

Between 2013 and 14, the board decided that all the common expenses, not allocable to any specific tournament, would be apportioned on the basis of revenue generated by the IPL, CLT20 and BCCI’s international tours.

 

This, Chaudhry said, will reflect more accurately the income generated from these activities of the board.

 

During the financial year, the BCCI had awarded the team sponsorship contract for the period from 1 January 2014 until 31 March 2017 to Star India. Star India was also awarded the title sponsorship for the limited period from October 2013 to December 2013 in which two series India versus Australia and India versus West Indies were played.

 

Under the infrastructure subsidy scheme, the member units have claimed Rs 764.03 crore (Rs 7.64 billion) till 31 March 2014, including subsidy for ground equipment. Under the scheme of one-time benefit to former players, an amount aggregating to Rs 1.55 crore (Rs 155 million) was paid during the year under consideration.