The Board of Control for Cricket in India (BCCI) faced a serious blow during the crucial ICC board meeting as most of the member countries outvoted the BCCI in the existing revenue share model. The new model put in place by the International Cricket Council, states BCCI will receive just $293 million as compared to the $570 million under the previous model. The new model will remain effective from 2016 to 2023.
India’s loss in new revenue model
In the old revenue model also known as the ‘Big Three’ model— Australia, England and India — these three nations were enjoying a major share. BCCI rejected to accept the new model as the board was drawing $570 million under the ‘Big Three’ formula. ICC wanted to provide a fair share to other countries. “This is another step forward for world cricket and I look forward to concluding the work at the Annual Conference. I am confident we can provide a strong foundation for the sport to grow and improve globally in the future through the adoption of the revised financial model and governance structure,” said ICC Chairman Shashank Manohar who was the force behind the new constitution.
Only Sri Lanka Voted in favour of India
Among the teams only Sri Lanka voted against the new model along with BCCI. Zimbabwe and Bangladesh’s cricket boards shocked BCCI as they had expected favourable votes from both the teams. The new revenue model was passed with 9-1 in favour by all the members of ICC while the governance changes were passed by 8-2 margin.
BCCI still highest, despite snub
“Based on current forecasted revenues and costs, BCCI will receive $293 million across the eight year cycle, ECB $143 million, Zimbabwe Cricket $94 million and the remaining seven Full Members $132 million each. Associate Members will receive funding of $280 million,” said an ICC statement released on Thursday. However, under the new regulations which will come into effect at the ICC annual conference in June, BCCI will still get the highest share followed by England cricket board getting $143 million. The revamped constitution has not gone down well with the BCCI members.
India may pull out ICC Champions Trophy
As per reports, India may pull out of this year’s champions trophy scheduled to be held later this year, as an act of defiance. It remains to be seen how the board will proceed ahead as pulling India from this big trophy will serve a huge blow for the team.