BCCI to receive $405 mn from ICC's revenue
- Author: Julie Sanders Jun 22, 2017,
Jun 22, 2017, 20:43
The International Cricket Council (ICC) have finally chose to agree to increase the Board of Control for Cricket in India's share (BCCI) to $405 million, according to reports from the Press Trust of India.
The ICC had chose to cut down BCCI's revenue share by about $280 million. Zimbabwe will get United States dollars 94 million.
BCCI had demanded United States dollars 570 million from ICC. "The Associate Members (together with Ireland and Afghanistan) will collectively receive funding of $240m", the governing body confirmed through a media release. They are followed by the England and Wales Cricket Board, which will pocket Dollars 139 million. However, BCCI is still getting 22.8 per cent out of total revenue sharing of United States dollars 1,536 million.
The deal drawn up in April was aimed at curbing the dominance of cricket's wealthiest nations - India, Australia and England - with more money flowing to minor Test nations and associate members.
The International Cricket Council have done away with the Big-Three financial model that was implemented in 2014, and have agreed upon a new model. "This is the first step towards the ICC improving its governance and I believe that these changes will benefit all members and enable us to continue to grow the global game", ICC Chairman Shashank Manohar said.
As per the new financial model approved by the ICC after its five-day meet in Dubai earlier this year, BCCI was to receive 293 million dollars from 2016 to 2023.
Earlier, the ICC had proposed to give U.S. 293-million-dollar, but after the BCCI's rejection and hectic negotiations, the apex body chairman Shashank Manohar agreed to increase the amount by United States 100-million-dollar. There were also suggestions that India might be pulling out of the Champions Trophy.