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BCCI earned Rs 738.06 cr from IPL media rights in FY16
MUMBAI: The Board of Control for Cricket in India (BCCI) earned Rs 738.06 crore (Rs 7.38 billion) from media rights fee of the Indian Premier League (IPL) in fiscal 2015–16. In the year-ago period, the media rights income was Rs 667.91 crore.
The earnings from franchise fee and sponsorship income was Rs 331.69 crore and Rs 204.16 crore respectively. In the previous year, the income from franchise fee was the same while sponsorship income was Rs 183.75 crore.
Total earning from the IPL was Rs 1,299.04 crore, of which Rs 508.28 crore was paid to franchises as central rights fee. In the previous fiscal, the revenue from the league was Rs 1,231.81 crore while the payout to the franchises was Rs 456.12 crore.
BCCI treasurer Anirudh Chaudhry said that gross media rights and franchisee consideration receipts from IPL 2015 are Rs 1,069.75 crore as against Rs 999.6 crore from 2014 edition. The increase is due to the increase in media rights income, he added.
Surplus income from the IPL jumped to Rs 210.51 crore from Rs 126.17 crore.
The media rights of the India market, which contributes the major chunk of the revenue, are split between Sony Pictures Networks India and Star India. Sony is the official TV broadcast partner of the IPL while Star holds the tournament’s digital rights.
Chaudhry further stated gross media rights income from the BCCI’s international fixtures has gone up to Rs 648 crore in the current fiscal from Rs 388.80 crore in the previous fiscal due to the increase in the number of matches held in India.
The cricket board is eyeing Rs 1,036.80 crore from media rights in 2016–17.
The media rights of India’s home matches are held by Star India. During the year, India played a total of 19 matches at home against South Africa, Australia and Sri Lanka.
Chaudhry also revealed that the BCCI received a compensation of Rs 1,607.58 crore (net of payment made to foreign boards) due to the termination of Champions League T20 rights agreement. Star India, the commercial rights holder of CL T20, had paid $420 million as compensation for shutting the tournament.
Receipts from ICC/ACC share of distribution/participation fees were at Rs 163.11 crore compared to Rs 54.15 crore in the previous year. This increased income is mainly due to receipt of funds for the ICC World Cup 2015 (ODI) held in Australia and New Zealand.
During the year under consideration, the annual gross receipts for the year ended 31 March 2016 from men’s senior international tours/tournaments increased to Rs 149.44 crore as against Rs 120.78 crore last year. The increase is due to an increase in international fixtures on Indian soil during FY 2015–16.
The interest income on bank deposits held by the BCCI increased from Rs 85.94 crore to Rs 175.48 crore during the year.
“The receipts in the financial year are substantially high due to the receipt from CLT rights holders towards compensation for the termination of the CLT-20 Tournament. 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 in interest rates and being conscious of the necessity of keeping the risk element to the lowest,” Chaudhry said.
In the year under consideration, expenses on cricketing operations (excluding CLT20) have increased to Rs 370.04 crore from Rs 311.21 crore. The provision for gross revenue share payable to the players has gone up to Rs 56.35 crore from Rs 10.47 crore. This increase is due to an increase in gross revenue income.
In the year under consideration, the surplus of income over expenditure was Rs 111.83 crore as against Rs 166.87 crore the previous year. This decrease in surplus is mainly due to distribution of additional amount due to associations, additional payments to players and absence of income from CLT-20 Tournament, in spite of an increase in total income over the previous year.
In the current financial year 2016-17, the budgeted surplus is estimated at Rs 509.13 crore.