Moneyspinner BCCI set to get 75% revenue from ICC eventshttps://indianexpress.com/article/sports/cricket/moneyspinner-bcci-set-to-get-75-revenue-from-icc-events/

Moneyspinner BCCI set to get 75% revenue from ICC events

The last World Cup,in 2011,yielded revenues to the tune of $1.5 billion.

The BCCI is likely to get a lion’s share of the revenue generated from ICC events as its financial contribution to the game is far bigger than other members.

Although the matter is yet to be discussed,it is learnt that member boards have agreed in principle following lobbying by the Indian board to do away with the old revenue distribution model under which profits from ICC events such as the World Cup were equally shared by all stakeholders.

“We’ve been working on this for a while and are close to reaching a formula,” a BCCI official said. The formula,it is learnt,happens to be 75 per cent for India and 25 per cent for the rest of the world. The change will come into force for the 2015 to 2023 period.

The last World Cup,in 2011, yielded revenues to the tune of $1.5 billion.

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The matter will be brought under the ICC’s finance and affairs committee where BCCI president N Srinivasan is also a member along with Giles Clarke,David Richardson (Chief Executive),Neil Speight,Wally Edwards and Dave Cameron.

A few country boards The Indian Express spoke to said they had no choice but to go along with the Indian board.

“We have no options. The amount of money that comes from ICC every year is big but most boards don’t want to spoil their relationships with the BCCI. We saw what happened to the South Africa series,the CSA lost millions of dollars after the India tour was cut short. India brings huge money with it and a bilateral series provides a major chunk of money,” a top official of a full member nation said.

CSA reportedly lost 2.5 million rand after the BCCI cut short the India tour.

BCCI secretary Sanjay Patel has said it’s a legitimate rights issue,calling their demand “just and fair”.

“It is not muscle-flexing but it is our legitimate issue. It is not the question of something we are doing out of the way. Unfortunately,no one raised this issue in the past on behalf of the BCCI,” Patel said on the sidelines of an ICC function.

“Our share should be proper and just. BCCI raised the question which so far has not been done. President Srinivasan has done a wonderful job studying this. It is for the first time that we have thought of this after studying all the data and financial research of ICC. According to Srinivasan,myself and other guys we have worked out good options and those options have been discussed on the sidelines of the IPL meeting in Singapore. But definitely the results are very positive,” Patel added.

The Indian board feels that other members will support them because it is a question of legitimate support. “In normal cases,how one shares the booty is the party which contributes more,” Patel added.