BCCI expects major surplus 01/10/2010 |
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India's cricket board expects excess cash by the end of this fiscal year despite lower revenues as income from media rights is set to dip.
The Board of Control for Cricket in India (BCCI) has projected a surplus of £18 m for the financial year ended 31 March 2011, almost double of the year-ago period. It anticipates its income to fall to £111 m, compared to £120m a year ago. Media rights earnings are projected to drop to £56 m from £80m in the previous fiscal year.
The Indian Premier League (IPL) will leave BCCI with a surplus this fiscal turning around from a loss position last year due to the event being shifted to South Africa. The BCCI expects to have a net income of £1,6 m in FY'11 compared to a loss of £5,8 m a year ago. The third edition of the IPL gave the cricket board a surplus of £1,5 m. BCCI’s surplus from tours is projected to rise marginally to £24 m, up from £21m in FY'10. Also the BCCI’s investment in infrastructure subsidy is projected to increase from £18m to £21 m. Both are for developing new and upgrading existing cricketing facilities.
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