ICC has revealed its new financial model, which it presented in Dubai. In the meeting a new constitution was proposed and distribution of revenues is based on the new model. The draft constitution was passed in the meeting. Seven members voted for it, two opposed and a single abstained for voting. The suggestions and changes will be brought up in the next meeting in April. The most stringent opposition is from BCCI. The new Committee of Administrators strongly disagreed with the new financial model stating it was not based on any concrete formula or logic. In the new model, shares of BCCI and ECB is reduced considerably, in contrast to the previous model where BCCI had 20.3% and ECB had 4.4% of the total shares.
BCCI opposed the model citing that there were “no real formula” behind the numbers. The contribution cost element as well as the breakdown of earning seemed redundant to the new CoA. However, still BCCI holds the largest share among every other boards, which is almost twice than them. The idea of cost contribution was substantiated with the fact that not all countries bring equal amount of money to the sport. India, being the largest market for cricket became the top shareholder of the total revenue generated. The simple logic behind this was, the more a member earns revenue from the game, the more its share in the total amount.
The prime issue with BCCI was the lack of a formula behind the specific figures of the percentage shares. In the new model, BBCI’s share is cut short by almost half plummeting the numbers to 10%. This is a reduction of about USD 190 million from the previous share of USD 445 million. Whereas, ECB faced a reduction of about 2% from 6% to 4%. This will account to about USD 30 million lesser than the previous figures.
Another key decision was the inclusion of new teams. In the meeting two new cricket playing nations were introduced. Ireland and Afghanistan entered the first table and their status was discussed in the meeting. Afghanistan was offered the prerequisite to play test cricket by conferring its multi-day tournament a first-class status.
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