International Cricket Council (ICC) set to approve the revenue-sharing model which would allow the world’s richest cricket board (BCCI) is all set to get around a 38.5 percent increase in revenue from the previous cycle. According to close sources, ICC confirmed that the BCCI’s influence will increase and return in their increased revenue share.
According to the reports in Telegraph, BCCI‘s revenue share would now amount to around US$231 million per year, as it would be a significant rise in income for the cricket board in India. according to the officials, the figure is going to increase by 38.5% of the final valuation that has been discussed in the ICC meeting.
“Every ICC member will receive significantly enhanced funding with a strategic investment fund ring-fenced to drive global growth initiatives in line with the ICC Global Growth Strategy,” the ICC said.
The suggested model was initially created by an ICC team, followed by work by the finance and commercial affairs (F&CA) committee of the organization’s governing body. It is known that full members’ revenue will be evaluated when the distribution was computed for the next cycle. According to reports, The ECB could earn US$ 41.33 million – or 6.89% – of the ICC’s earnings. CA, the third member of the original Big Three, comes next and could get US$ 37.53 million (6.25%).
This Is A Significant Moment In The History Of Our Sport – Greg Barclay On Equal Distribution Of Prize Money
In a significant announcement, the International Cricket Council has announced the same amount of prize money for both Men and Women’s Cricket in the ICC events. The idea to bring the change in the prize distribution was proposed by BCCI secretary Jay Shah and also brought some new changes in the over rate of the teams going into the Test Cricket.
“This is a significant moment in the history of our sport, and I am delighted that men’s and women’s cricketers competing at ICC global events will now be rewarded equally.”
“If a team is bowled out before the new ball is due at 80 overs, there will be no over-rate penalty applied even if there is a slow over rate. This replaces the current 60 over threshold,” ICC chair Greg Barclay said.
The ICC has increased the prize money and revenue share to the boards with an eye on the rise of the global T20 league as the players are tilted towards playing the T20 game rather than playing for the nation. Indian Premier League teams have expanded their teams to global leagues, as Mumbai Indians have teams in SA20, ILT20, and MLC and Kolkata Knight Riders have teams in CPL, ILT20, and MLC.