Profits double in Indian cricket

The Board of Control for Cricket in India (BCCI) has doubled its net profit to US$71.5 million for the 2011-12 financial year.

India's Mail Today newspaper, citing figures from the BCCI's annual report, stated that having recorded a net profit of $35.5 million in 2010-11, the Board had originally budgeted for a profit of $55.4 million for the 2011-12 campaign

Underlining its status as the financial powerhouse of world cricket, the BCCI generated revenues of $158.8 million in 2011-12, with media rights accounting for the greatest share of income. A total of $81.9 million was generated through this method in 2011-12, versus $72.7 million in 2010-11. These figures come in a year in which Asian pay-television broadcaster Star TV pulled off a major coup by snapping up worldwide broadcast rights for India cricket matches in a six-year deal.

The rights in April's deal included all India national team Test, one-day international and Twenty20 matches held in the country and some domestic tournaments through to 2018. The deal was reportedly worth Rs38.51 billion (US$770 million), or just over Rs400 million per match a significant increase on the previous deal with Nimbus, which was worth Rs312.5 million per fixture but was cancelled by the BCCI earlier this year due to a dispute over rights fee payments.

The Indian Premier League (IPL) was the BCCI's second-highest revenue generator after pulling in $49.6 million in 2011-12 versus $22.2 million in the previous year.

Commenting on the financial performance, BCCI Treasurer Ajay Shirke stated "I am pleased to report that in spite of the various issues that the Board faced from time to time, our financial performance has been satisfactory."

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