BCCI highest earner from ICC’s new revenue share model despite snub
BCCI will receive $293 million across the eight-year cycle from ICC’s revenues. England second highest ($143 million) among full ICC membersUpdated: Apr 28, 2017 00:52 IST
Despite not being able to come to a consensus, the Board of Control for Cricket in India (BCCI) will still receive the largest share in the new revenue model put in place by the International Cricket Council (ICC) that will be effective from 2016 to 2023.
The Indian cricket board will receive $293 million across the eight-year cycle under the new regulations. Though it is a lion’s share, the income is way less than what the Indian cricket board wanted.
It is further learnt that the BCCI’s share in revenue can be increased to around $390 million. A formal offer was made to the BCCI a few minutes before the start of the ICC Board meeting attended by BCCI’s joint honorary secretary Amitabh Chaudhary, Hindustan Times has learnt.
But, as per the mandate given to him by the BCCI at the Special General Meeting Chaudhary explained that he was not in a position to accept or decline, and any decision will have to go back to the BCCI SGM. For the ICC Board meeting, the BCCI representative had only two options get the revenue share as per the Big Three model or defer the decision on it, which is what Chaudhary argued for.
According to reports, the BCCI wanted a share of $570 million which would have been possible only under the ‘Big Three’ model. The Big Three model, a brainchild of ousted BCCI boss N Srinivasan, had the cricket boards of England and Australia as partners.
Based on current forecasted revenues and costs, BCCI will receive $293m across the eight year cycle, ECB $143m, Zimbabwe Cricket $94m and the remaining seven Full Members $132m each. Associate Members will receive funding of $280m. This model was passed 13 votes to one,” said an ICC statement on Thursday.
England second highest earner
The ECB will be the second biggest earner among the Full Members and will receive $143 million with Zimbabwe Cricket (ZC) getting $94 million. All the remaining seven Full Members will be given $132 million each.
Interestingly, all the Associate Members will receive a huge funding of $280 million, just $13 million less than what BCCI will get.
The decision was taken in the crucial ICC Board meeting in Dubai where a number of decisions were also passed including an agreement on a new constitution that will be put before the ICC Full Council in June.
The revised constitution was approved by 12 votes to two. On this too, BCCI had been out-voted in its opposition to dilute the ‘Big Three’ structure.
BCCI’s loss of face
In a major loss of face on Wednesday, the BCCI was out-voted in its opposition to the new model, which has ended up nearly halving India’s share from the $570 million it was getting till last year.
The Board had reportedly rejected an additional $100 million offer from ICC chairman Shashank Manohar, refusing to accept the new revenue model.
The decision came at the end of five days of ICC’s Board and Committee meetings.
“This is another step forward for world cricket and I look forward to concluding the work at the Annual Conference. I am confident we can provide a strong foundation for the sport to grow and improve globally in the future through the adoption of the revised financial model and governance structure,” Manohar said.
First Published: Apr 27, 2017 13:39 IST