ICC earns $321.2 million from 2011 World Cup

ICC earns $321.2 million from 2011 World Cup

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MUMBAI: The International Cricket Council has earned $321.2 million from the successful 2011 ICC Cricket World Cup that was staged in the Indian sub-continent, reinforcing its dependence on the tentpole property for its revenues.

In comparison, the ICC had earned $105.1 million from the ICC World Twenty in 2010.

The ICC had sold the global broadcast rights to ESPN Star Sports till 2015 for $1.1 billion. As per the deal, ESS got the telecast rights for 18 ICC tournaments, including two World Cups and five T20 World Cups.

Though the major portion of ICC?s 2011 World Cup revenues were from the sale of the broadcast rights, it also got income from ten sponsors that included Hero MotoCorp, Pepsi, Emirates, LG, Reliance Communications, Reebok, Castrol, Hyundai and MoneyGram.

The ICC?s total revenue for the year stood at $353.8 million, up from $134.9 million in 2010.

The revenue from the World Cup pushed the world cricket governing body?s surplus to $203.8 million for the year ending 31 December compared to $76.1 million in the year ago period. The World Cup takes place every four years.

It must noted that the ICC had got a Rs 450 million tax exemption from the Indian government on a part of its income arising in India from the ICC CWC.

Its subscription income went up from $21.9 million in 2010 to $24.1 million. Subscription income is the amount ICC?s Full Members (Test playing nations) pay every year to fund the annual budget of the ICC.

The ICC?s income from commercial and other activities grew to $5.9 million from $5.2 million while interest and other financial income totaled $2.6 million, a slight drop from $2.7 million that it earned in 2010.

Operating costs amounted to $149.9 million, up from $58.8 million as the event cost of $121.9 million for staging the staging the ICC CWC. The event cost in 2010 stood at $30.2 million, which went into staging the ICC T20 WC.

General and administrative expenses relating to the management of the global game of cricket totaled $28 million, a decline from $28.6 million in the previous year.

During the year, member boards were paid dividends amounting to $180 million. In 2010, the amount toted up to $69 million.

Capital and Reserves amount to $33.6 million (2010: $29.4 million), represented by Reserves of $29 million (2010: $19.9 million) and Retained Surplus of $4.6 million (2010: $9.5 million).

The consolidated financial statements comprise the results of ICC Development International and its subsidiary companies ICC Events, International Cricket Council FZ-LLC, IDI Mauritius Limited and IDI Hungary KFT. The Group is owned by ICC for the benefit of all its Members.

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