BCCI income,surplus decline in 2008-09

The income and the profits of the Board of Control for Cricket in India (BCCI) declined for the first time in five years in the financial year ending March 2009.

According to the income and expenditure account for 2008-09,a copy of which is with The Indian Express,BCCIs total income was Rs 726 crore,down from Rs 1,000 crore in 2007-08. This came after a consistent year-on-year rise in income over the previous four years. The boards surplus,which is the net of income after accounting for expenditure,also declined. The surplus,which had risen about 600 per cent in 2006-07,and 31 per cent in 2007-08 to Rs 303 crore,was down 82 per cent to Rs 53.7 crore in 2008-09.

The income and expenditure account is being vetted by the top board members. BCCIs governing council will meet on

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September 2 to approve the financial accounts. BCCI president Shashank Manohar said that the board would discuss all this in a metting on Wednesday,but declined to comment on the boards financial performance.

The financial statement suggests that a drop in the income from grant of media rights was one of the reasons for the decline in revenues. The BCCI had earned around Rs 559 crore from media rights in 2007-08 as against Rs 465 crore in 2008-09. Mumbai-based Nimbus Communications had won the four-year media rights to all BCCI matches for $ 612 million in 2006. The deal,however,was renegotiated after Nimbus argued that the loss of exclusivity,because of the mandatory sharing of the telecast of the matches with public broadcaster Doordarshan,would limit its ability to generate revenue.

Another reason for the decline over the previous year was that the board had earned around Rs 50 crore from two big-ticket events,the World Cup and the ICC Champions Trophy,in 2007-08.