BCCI's profit soars to $39.68 million (200% increase from previous year)

[nsniks]

BCCI Annual General Meeting 2011: BCCI's profit soars to $39.68 million | India Cricket News | ESPN Cricinfo

The BCCI has registered a surplus of Rs 1.89 billion ($39.68 million) for the year ended March 31, 2011, an increase of 200% over the previous year. The 2010 IPL was the big money spinner for the board, generating a surplus of Rs 1.19 billion ($24.90 million), a complete turnaround from the loss of Rs 419 million ($8.77 million) the league posted in 2009, and more than 10 times the BCCI's budgeted target of Rs 115.60 million ($2.41 million), according to the board's annual report.

The 2010 Champions League Twenty20 was the other big contributor to the board's finances, yielding a surplus of Rs 482.91 million ($10.11 million), up 23% from the previous year. According to the BCCI's balance sheet, the board is currently worth Rs 25.31 billion ($529.50 million).

In all, the board reported revenues of Rs 8.68 billion ($181.59 million), down 2% from the previous year, of which Rs 3.89 billion ($81.38 million) came from media rights. India's tours home and away were also lucrative, with the board raking in Rs 1.94 billion ($40.59 million) as India's status as the No. 1 Test team meant they were a big draw wherever they played. India is also the largest market for cricket, which helped to attract sponsors. Distributions from the ICC totalled Rs 238.13 million ($4.98 million), down about 6% from 2009-10.

The board set up four specialist academies during the year. A spin bowlers academy was set up in Chennai, a batsmen and wicketkeeper academy in Mumbai, a pace bowlers academy in Mohali and an umpires academy in Nagpur. The total cost of setting up the academies was Rs 90 million ($1.88 million).

The BCCI spent Rs 4.90 billion ($102.51 million) on hosting tournaments, by far its largest expense. The players' share of gross revenue was Rs 212.20 million ($4.44 million), down 53% from the previous year. That number does not include the bonuses paid for winning the 2011 World Cup, however, which amounted to Rs 367.50 million ($7.69 million) distributed to the team, support staff and selectors. Coaching expenses totalled Rs 73.70 million ($1.54 million), up 26.13% from the previous year.

The board also chose to write off the Rs 466 million ($9.75 million) that they had claimed was due from former president Jagmohan Dalmiya in light of their decision to drop their case against him at last year's AGM. They also paid out Rs 131.1 million ($2.74 million) to Rajasthan Royals as compensation for the cancellation of the 2008 Champions League.

Thats a large amount of money. Any data on what other boards are making?

 

[ankitj]

Who gives a ****.

 

[Daemon]

The board set up four specialist academies during the year. A spin bowlers academy was set up in Chennai, a batsmen and wicketkeeper academy in Mumbai, a pace bowlers academy in Mohali and an umpires academy in Nagpur. The total cost of setting up the academies was Rs 90 million ($1.88 million).

At least it's going somewhere I guess

 

[Bun]

The so called 'mis-managed" entity

 

[ankitj]

The so called 'mis-managed" entity

Monkeys can run BCCI and they will make same money. It's insane popularity of cricket in India that's getting them all the money.

Besides, I thought BCCI would have been making more. $40 million in annual profits doesn't seem huge compared to what large corporations make.

 

[Sanz]

I do.

As a fan I would like some of that money to be invested in our grounds, stands so that it makes watching cricket from in the ground a pleasant experience. As a fan I would like the BCCI to spend some of that money to have a better process for selling the cricket tickets to their ordinary fans, so that the fans don't have to spend half of their day in lines for a cricket ticket and then get beat up.

 

[Sanz]

The so called 'mis-managed" entity

This is a really silly argument. Who will take responsibility for not producing a single world class bowler or Batsman in last 10 years ? It is a pathetically managed organization, both financially and professionally.

How does one explain the recent debacle in England, their stand on DRS in last few months, the whole IPL mess, mistreatment of Rahul Dravid, Sydneygate, Monkeygate etc. ?

 

[Furball]

If a sporting governing body is reporting a budget surplus of nearly $40m, then there is certainly a case for arguing that a degree of mismanagement exists. Why are they sitting on that pile of cash instead of investing it in infrastructure, or player contracts?

 

[ankitj]

If a sporting governing body is reporting a budget surplus of nearly $40m, then there is certainly a case for arguing that a degree of mismanagement exists. Why are they sitting on that pile of cash instead of investing it in infrastructure, or player contracts?

Yeah, fair point. But if they are using the strict accounting principles, investments will not count as expenses and won't affect profit

 

[Cevno]

Monkeys can run BCCI and they will make same money. It's insane popularity of cricket in India that's getting them all the money.

Besides, I thought BCCI would have been making more. $40 million in annual profits doesn't seem huge compared to what large corporations make.

While i have been a big critique of BCCI and the people who run it with so much opaqueness and are really morons sometimes, i do not agree with this point at all.
BCCI has been largely a part of building this so called popularity over the years from which they are earning now while other sports bodies even supported by the Government have done a big **** all for any of the other sports.

Hockey is out national game and once upon a time was the most popular game in the country, but lack of clout of the federation and it being run like a fiefdom has brought it to levels where players even have to fight and protest to get a decent reward(given 25,000 rs per player only at first) for winning the Asian Champions League.And that when even now during the Hockey World Cup and Commonwealth games there is a double demand for tickets than available.
Now we have 2 federations fighting it out for control with not even the local pan shop wanting to sponsor them as they don't know where the money will go or what they will get and no sports channels even wanting to telecast Hockey matches.

Look at Football, it has gained a lot of popularity in India over the years specially in Urban areas where actually i would say it is played even more than Cricket.Messi coming to India was a big news event and thousands turned up to watch a match in Kolkatta which had nothing to do with India(Argentina vs Venezuela), even more in numbers than people turn up to watch a non India cricket match. But again the Bloody AIFF is making losses and even a bloody half competent person should be able to turn it around easily. But no they are not able too.

You can say what you want about the IPL, but it is a money making machine engineered by Lalit Modi who first offered the idea to AIFF but they declined ludicrously showing no long sightedness. The money making from the IPL has not only lead to the Domestic players earning more by playing in it, but even more for all the hundreds/thousands of domestic players who would even get pensions now While Poor Cyclists are living in Gurudwaras training for a World Championship type of event and Hockey players are cooking at Railway stations. The Stadiums now have also started improving(new ones being built too) and training Infrastructure not existent anywhere in the world w.r.t speciality in Cricket is being built. I am again no big fan of either but Madhavrao Scindia and Jagmohan Dalmiya played a big part in this turnaround and creating more professionalism too.

As for the Profits, i think they are being shown less for taxation purposes and the money is largely distributed to state associations before showing profit. Taking the risk of sounding as a BCCI supporter, which i certainly don't want too, there are Monkeys running other sports federations in India who are even capable of turning losses out of Cricket and putting Cricket in the doldrums by ruining all the systems if they are allowed too.

 

[Cevno]

Yeah, fair point. But if they are using the strict accounting principles, investments will not count as expenses and won't affect profit

The IPL shows up some profits seperately i believe and being a registered "Not for Profit organisation" with not many paid employeers, i don't think they can actually show more profits as the headline figure.

Specially with the Union government quite rightly looking to Tax the BCCI now.

 

[Furball]

India news: No special inquiry for England debacle - Srinivasan | India Cricket News | ESPN Cricinfo

They're muppets.

"And the players who do play all three formats were not the ones who got injured [in England].

What?

 

[ankitj]

Cevno - tldr BCCI did not have any real threat from any other sport tbf. So I can't tell how much they had to positively do to keep cricket a popular sport. At least in last one and a half decade, cricket has flourished on its own. Three individuals responsible for cricket's popularity are Gavaskar, Kapil and Tendulkar IMO.

And yes, we can't say what the profit figure exactly stands for. Their gross profits might be much more than that, and they might have included lot of overheads to avoid taxes. No one knows. Don't know how rigorously their accounting is audited.

 

[Sanz]

India news: No special inquiry for England debacle - Srinivasan | India Cricket News | ESPN Cricinfo

They're muppets.



What?

Haha yeah, the player who had the biggest contracts, were fat and didn't spend enough time on their fitness were the ones who got injured.

 

[Cevno]

I think he is hinting at his CSK players there ,i.e Dhoni and Raina.

Hate Srinivasan tbh.

 

[ankitj]

India news: No special inquiry for England debacle - Srinivasan | India Cricket News | ESPN Cricinfo

They're muppets.

Yeah, an inquiry would result in recommendations of shortening the IPL, so of course no need to do one. Donkeys! (sue me BCCI for saying that)

 

[Cevno]

Cevno - tldr BCCI did not have any real threat from any other sport tbf. So I can't tell how much they had to positively do to keep cricket a popular sport. At least in last one and a half decade, cricket has flourished on its own. Three individuals responsible for cricket's popularity are Gavaskar, Kapil and Tendulkar IMO.

That is too much of a simplistic way of looking at it tbh. Have and Can explain it further but you won't read.

And those 3 didn't really become stars on their own without the marketing and Branding of Cricket in general being done well. The no competition from other sports played a part, but then as i said there is a reason for there being no competent competition too.

 

[Sanz]

That is too much of a simplistic way of looking at it tbh. Have and Can explain it further but you won't read.

And those 3 didn't really become stars on their own without the marketing and Branding of Cricket in general being done well. The no competition from other sports played a part, but then as i said there is a reason for there being no competent competition too.

Actually Kapil was a star who was rejected by the BCCI. 5 years before making his debut, he was told by BCCI that "there are no fast bowlers i India". And no Kapil didn't becaome a brand because of BCCI, he became a brand because he won the WC and because of the style of cricket he played. I knew Kapil before I knew BCCI. Sunny was a star from the first series he played in WI, He was a child prodigy as well and also had the the backing of his uncle that ultimately got him into the Ranji team.

Kapil and Sunny was not the brand built by BCCI, BCCI was the brand that built upon the sheer star powers of these Two cricketers. BCCI was nothing before their arrival.

Tendu was not product of BCCI's domestic structure either, although BCCI does get the credit for recognizing his talent early on.

 

[Daemon]

You don't judge a board by looking at it's best players abilities, those guys are talented and would've flourished under any system. What they can be judged on imo is the overall quality of the talent pool present in domestic cricket relative to the guys in the national team.

 

[Cevno]

Actually Kapil was a star who was rejected by the BCCI. 5 years before making his debut, he was told by BCCI that "there are no fast bowlers i India". And no Kapil didn't becaome a brand because of BCCI, he became a brand because he won the WC and because of the style of cricket he played. I knew Kapil before I knew BCCI. Sunny was a star from the first series he played in WI, He was a child prodigy as well and also had the the backing of his uncle that ultimately got him into the Ranji team.

Kapil and Sunny was not the brand built by BCCI, BCCI was the brand that built upon the sheer star powers of these Two cricketers. BCCI was nothing before their arrival.

Tendu was not product of BCCI's domestic structure either, although BCCI does get the credit for recognizing his talent early on.

It's bit of a Chicken of Egg situation, here. Both wouldn't have been succesful without each other.

Pretty naive to see it one way tbh. And infact i would give more weightage to the opposite side you are giving all credit too.

Dhanraj Pillay and Hockey are a perfect example of what illustrates my point. And also do the several Great / Very Good Hockey players whom the world recognised in the 1980's but hardly are known in India and in some cases struggle even to make ends meet currently.

And don't you tell me that Hockey was never popular in the country and didn't have something which could have been built on. There was a vacuum which existed due to the mismanagement of it (and lack of Clout in the World Federation among other things) and Cricket did a very good job of filling it, with BCCI playing a major role. While others sports floundered and still are.