The BCCI’s acting secretary Amitabh Choudhary has said the counteroffer of $400 million which ICC has put on the table as the negotiation is not “anywhere even close” to global cricket revenues India helps to generate.
BCCI experienced a massive setback a couple day ago when the 2014 revenue model was scrapped to pave way for the newly reformed revenue one. The financial amendment was passed by majority votes in the ICC meet which concluded in Dubai last week.
According to ICC’s new finance model, BCCI will receive $293 million as its share of the annual ICC revenue. The estimated amount was chalked out based on ICC’s projected income of $2.7 billion. Another motive was to present an equitable share to other board members also.
The BCCI, however, rejected the new proposal and has demanded $570 million in accordance with its revenue percentage under the previous Big Three finance model. Choudhary contended that the Indian market contributed 70 % of the global cricket revenue and that it was natural for India to get the lion’s share.
The ICC showed disagreement and a counter offer was made by ICC president Shashank Manohar to reach a mutual agreement over the matter. Manohar promised an additional $100 million to bring the BCCI’s share to nearly $400 million.
The offer was once again made to Choudhary when he sat as the BCCI representative in the ICC Board meeting that eventually passed a new constitution, a new governance structure and the new finance model.
“Because it is far less than what India deserves fairly,” Choudhary told the Indian Express when asked why he did not agree to the settlement deal.
“Why do you forget that a disproportionate share of revenues to cricket comes from India? It’s very easy and misleading to say that India is getting a disproportionate share. The facts are that over 70 per cent of cricket’s revenue world over comes from the Indian market. That [the $293 million offered by the ICC] is not even close to the contribution that India makes.”
BCCI seems in no mood to take a step back and delayed the announcement of the Indian squad for the Champions Trophy by skipping the original April 25th deadline also.
According to Choudhary, the decision made by the BCCI will also affect the broadcasters badly, as it would be a big loss if India would pull out of the Champions Trophy.
“It’s common sense; if India doesn’t play, it will become very difficult for the broadcasters to even produce [the event].”