BCCI to receive $405 million from ICC as per agreed revenue sharing model
It so appears that despite not being able to come to a consensus, the BCCI will still receive the lion’s share of the revenue.
Published - Jun 22, 2017 7:24 pm | Updated - Jun 22, 2017 7:24 pm
As per the agreed revenue sharing model that will be effective from 2016 to 2023, the Board of Control for Cricket in India (BCCI), is all set to receive $405 million from the International Cricket Council (ICC). Previously, it was reported that the ICC had come to terms with the BCCI with the latter set to accept the $100 million additional funding from the international governing body.
This was in addition to the initial $293 million that the ICC had offered back in April. On the basis of the current forecast of revenues and cost, the ICC had offered the sum to the BCCI across the eight-year cycle. If the PTI report is to be believed, then, it so appears that despite not being able to come to a consensus, the BCCI will still receive the lion’s share of the revenue.
BCCI wanted a share of $570 million
However, India had demanded more, citing the fact that it brought in the largest share of ICC’s revenue. Reports had suggested that the BCCI wanted a share of $570 million, a scenario that would have been possible had the ICC gone with the ‘Big Three’ model. The ‘Big Three’ model, which would have England, Australia and India as partners, was the brainchild of the now ousted BCCI boss N Srinivasan.
This idea, though, was shot down at the ICC Board meeting in Dubai with the new revenue sharing model being passed by 13 votes to one with BCCI being the only one to object the change. Under the new model, England will be the second highest earner as they were offered $143 million.
Zimbabwe were offered $94 million while the remaining seven Full Members were offered $132 million each. The Associate Members are set to receive a huge funding of $280 million during the eight-year cycle.
– Written by Sagnik Kundu