BCCI's profit soars to $39.68 million

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.