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28 June 2017 Last updated 1 hour ago

ICC meeting ends with approval of new financial model

ICC meeting File photo ICC meeting

The meeting of International Cricket Council’s (ICC) board ended in Dubai as it approved a new financial model that will vastly reduce the BCCI s share of ICC revenue while offering equal amounts to seven of the game s Full Member nations.

The intense negotiations on the new constitution of ICC ended with BCCI s opposition changed by the collective will of the rest.

As per details, the new amount of ICC revenue distributed among the member nations in the following way;

The BCCI will receive US$293m across the eight-year cycle under the new plan as opposed to the US$440 million that the board previously received under the Big Three model.

Under the new financial model, the ECB will receive US$143m as compared to the $US150 million that it previously received under the previous structure.

As far as Cricket Australia is concerned, the board’s revenue has not changed under the revamped revenue model as it will be receiving the same amount that it previously received as it will be in line with South Africa, Pakistan, New Zealand, Sri Lanka, Bangladesh and West Indies.

With Zimbabwe Cricket bagging US$94m, the remaining share of revenue has been equally distributed among the seven Full Members.

In addition, the other seven Full members will receive US$132m each while Associate Members will receive total funding of US$280m under the new financial structure.

It is worth mentioning here that the new changes were passed by 14 votes to one, with the BCCI solely opposing the newly financial model.