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Rediff.com  » Sports » Huge amount spent on ceremonies in IPL-2

Huge amount spent on ceremonies in IPL-2

August 20, 2010 19:42 IST

The Indian Premier League spent over 55 crore in opening and closing ceremonies, entertainment and hospitality when the Twenty20 League was held in South Africa last year, with now suspended Lalit Modi at its helm.

The cost of the opening and closing ceremonies, which was 7.36 crore in the inaugural edition of IPL in 2008 in India, rose to Rs 18.37 crore, according to the statement of accounts presented on Friday at the IPL Governing Council's meeting in Mumbai.

The entertainment and hospitality expenses amounted to Rs 33 crore in South Africa, while the league expenses also saw an increase of Rs 15 crore from the previous year, amounting to Rs 65 crore.

The administrative expenses shot up from 47.5 crore in 2008-09 to over Rs 78 crore in 2009-10, including almost Rs 50 crore spent on advertisements.

Though payment to event management firm IMG was reduced from Rs 44 crore in 2008-09 to 34 crore in 2009-10, the overall impact of the shift of the IPL to South Africa led to a deficit of around Rs 39 crore for the Board of Control for Cricket in India.

This was despite augmentation of media rights income from Rs 242 crore to Rs 364 crore, income from sale of tickets amounting to Rs 22 crore (in SA) and increased sponsorship inflow from Rs 111 crore to Rs 117 crore.

The outgoing from BCCI's coffers towards payment to the eight franchises was Rs 310 crore in 2009-10 compared to Rs 220 crore in 2008-09.

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