MUMBAI: Football Sports Development Limited (FSDL) had given a loan of ₹10 crores to Mohun Bagan Football Club in the financial year of 2021-22, and both the principal amount and the interest on it has been waived off. A report in Sportskeeda said that the amount was waived off before the sue date of repayment.
According to the report, FSDL, which owns and runs the Indian Super League (ISL), has seen a decline in non-concurrent assets to ₹30.46 crore from ₹50.43 crore.
According to the financial report for 2021-22, FSDL incurred a loss of ₹46.30 crore compared to ₹13.68 crore in 2020-21, the report said.
Total revenue increased from ₹371.92 crore in 2020-21 to ₹393.77 crore. The major source of income from operations was event management (₹253.59 crore) and participation fee (₹136.01 crore). Major operational expenses from the previous fiscal year included stadium costs (₹10.17 crore), players, commentators, and other professional fees (₹22.85 crore), central rights distribution (₹179.95 crore), commercial rights fee (₹42 crore), and event management expenses (₹75 crore).
Overall the expenses also saw growth when compared to the 2020-21 cycle. FSDL had an operation expenditure of ₹411.21 crore in 2021-22 compared to ₹369.74 crore in 2020-21, the report said.
