Dismal revenue collection for Games organizing committee

first_imgWith the fall in sponsorship amount, coupled with poor ticket and merchandise sale, the total revenue collection of the Commonwealth Games Organising Committee is expected to come down to Rs 600 crore only against an expenditure of about Rs 1,820 crore.CWG closing ceremony.”Many sponsors including the Railways, the lead partner of the Commonwealth Games, are yet to make full payments. But we are hopeful that sponsors will make payments as per their commitment,” said a senior OC official. The OC was given Rs 1,820 crore as a loan by the government for organizing the Games.”We are expecting Rs 600 crore as revenue including about 350 crores from sponsorship and Rs 215 crore from TV rights,” the official said.Railways has committed to give Rs 100 crore for the Games. It had also operated a special Taj Express for delegates and athletes during the event as part of its agreement with the OC.”The issue regarding the payment by railways have been resolved now. Railways is expected to deposit the money in a joint account of Sports Ministry and Organising Committee soon,” he said.As far as ticket sale is concerned, only Rs 20 crore has come to the OC kitty as against the target of Rs 100 crore.However, the official said, “The total earning from ticket sale will be about Rs 40 crore, as all the collection money has not been deposited yet.”Blaming the negative publicity following reports of irregularities surrounding the sporting extravaganza, the official said even the income from licensing and merchandise was dismal. “Only some lakhs were collected from merchandise sale,” he said.advertisement–With inputs from PTIlast_img

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