The Cricket Association of Bengal, helmed by former Indian cricket team captain Sourav Ganguly, has reportedly ended up spending ₹ 28.5 crore more than its revenue during the last financial year.
The figures were reportedly revealed during the meeting of the CAB Finance Committee in Kolkata on Wednesday.
The CAB will now be relying on the release of its share from Board of Control for Cricket in India’s funding to the State bodies. The deficit has occurred as the BCCI has not released the State’s funding for the past three seasons.
“CAB has incurred a ₹28.5 crore expenditure over income. The BCCI subsidy to State associations is a major source of funds. Once that comes, we hope to tide over the situation,” CAB Joint Secretary Avishek Dalmiya has said.
The CAB will share its financial status with members during the July 31 general body meeting.
In October 2016, the Supreme Court had stopped the BCCI funds to the State associations till they accept and comply with the Lodha Committee recommendations.
CAB”s expenditure Rs 28.5 crore more than income
The Cricket Association of Bengal has an expenditure of ₹28.5 crore above its income in the last financial year, it came to light after its Finance Committee meeting here on Wednesday.
“CAB has incurred a Rs 28.5 crore expenditure over income. The BCCI subsidy to state associations is a major source of funds. Once that comes, we hope to tide over the situation,” Joint Secretary Avishek Dalmiya said.
The CAB will hold a special general meeting on July 31 to apprise members of the financial situation.
Not receiving the BCCI grant for last three seasons has affected the CAB in incurring the losses.
In October 2016, the Supreme Court had stopped the BCCI funds to the state associations till they accept the Lodha Committee recommendations.