The International Cricket Council (ICC) has increased its revenue sharing with the Board of Control for Cricket in India (BCCI) by a staggering 72 percent. Following the ICC’s ratification of the revenue distribution to its member boards at its Annual Conference in Durban on Thursday, Jay Shah informed the state associations of the development via email on Friday.
“In the new revenue distribution model adopted by the International Cricket Council (ICC) Board at its most recent meeting held in Durban, South Africa, the BCCI has been allotted a share of 38.5%. India’s share, as you are aware, was 22.4% in the previous cycle and is currently 38.5%, an increase of around 72%. The share held by BCCI has increased significantly. The BCCI secretary wrote in a letter, “This achievement is a tribute to the combined efforts and support of all our state organizations and my colleagues at the BCCI. The Board of Control for Cricket in India (BCCI) is given a revenue share that is estimated to be worth $231 million, or almost Rs 2,000 crore every year, according to a report published on this website on Thursday, July 13. The International Cricket Council (ICC) and Indian broadcaster Disney Star inked a huge media rights agreement, which is what is responsible for this significant increase.
With this new agreement, Disney Star paid an astounding $3.1 billion to secure the broadcasting rights for the following four years. The previous broadcast pact, in contrast, was only worth $1.9 billion and lasted eight years. The BCCI’s financial prospects have significantly improved as a result of this significant increase in the media rights transaction. “This allotment represents the enormous efforts and contributions made by each of you, as well as the confidence you have placed in the BCCI’s management. Our close diplomatic and strategic connections with other ICC members have been important in securing India’s significant share of the market. This acknowledges India’s importance as a cricket-playing nation and highlights the reality that India is where cricket’s heart truly beats,” he continued in his communication.
He also disclosed that BCCI received a large allocation for the ICC Strategic Fund. “We have argued for a significant part of monies to be allocated to the ICC’s strategic fund in addition to our component of the revenue distribution. In the upcoming media rights cycle, this fund will play a crucial role in supporting the growth of the sport and funding the development of cricket.
This was acknowledged by Arun Singh Dhumal to the BCCI’s forward-thinking leadership. “Under the smart leadership of Mr. Jay Shah, the BCCI has recently strengthened its reputation as a visionary body in the pantheon of cricket. The BCCI has led by example, whether it is with the WPL, pay equity for women or the expansion of the sport internationally with the IPL. Thus, it was only a matter of time before the ICC acknowledged its contributions to the game of cricket, according to the IPL chairman.
