From $450m To $290m; BCCI Unhappy With ICC Over New Revenue Model
Feb 7, 2017 at 3:18 PM
The BCCI is reportedly unhappy with ICC over the new financial model which was proposed during the meeting in Dubai recently. As per the suggestions, BCCI would be bearing a loss of 34% in the revenue earned as a part of Big Three in 2015-2023 rights cycle. They now would be pocketing a figure of $290m, which was earlier $450m.
Led by Shashank Manohar, ICC proposed a revised model on the table, which out of ten Test playing nations, eight voted for apart from India and Sri Lanka. During the meeting, BCCI asked the head body to defer the voting until April but had to deal with a No later on. Not only this, BCCI urged ICC to not cut down its revenue model and also believed it should be earning in the region of $400 million in any financial model.
As per ICC’s old revenue distribution formula used during 2007-2015, each of the full members stood to get gain an equal share of surplus revenue earned of $525 million, which makes around $52.5 million for everyone. Since the new model is on the brink of being executed, BCCI will be gaining a handsome sum of $290m, which is much more than the total amount received by other nations.
Manohar, on the other hand, seemed gloomy with this decision too, saying BCCI is already getting much more than they deserve.
As per the reports, BCCI is also cheerless about the lack of transparency in the calculations behind this new financial model. The ICC in reply said the model was built on guiding principles of equity, a good conscience, revenue generated by members, and a recognition of an inter-dependency among members.