With the Board of Control for Cricket in India (BCCI) set to earn a lion’s share from the International Cricket Council’s (ICC) revenue, the BCCI has advocated a substantial allocation of funds to the ICC strategic fund, in a bid to help the sport grow.
The BCCI came to the decision at the ICC annual board meeting which was held recently, and the BCCI secretary Jay Shah in a letter wrote that the funds would help in cricket’s development in the next media rights cycle, that runs from 2023-2027.
“In addition to our share in the revenue distribution, we have also advocated for a substantial portion of funds to be allocated to the ICC’s strategic fund,” Shah wrote in a letter to the state associations on Friday, news agency PTI reported.
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“This fund will be instrumental in fostering the growth of sport and investing in the development of cricket in the next media rights cycle,” Shah added.
On 11 July, the MCC World Cricket Committee had proposed strategic funds for the safeguarding of Test cricket and growth of the women’s game.
And as per India’s revamped revenue share that got approved in the ICC meeting in Durban, BCCI are set to gain 72 percent increase in the revenue share.
From 2024 to 2027, BCCI are set to earn $230 million on an annual basis, that is 38.5 percent of ICC’s annual revenue of $600 million approximately.
“This is a significant increase in BCCI’s share. This achievement is testament to the collective efforts and support of all our state associations and my colleagues at the BCCI,” said Jay Shah.
“This allocation reflects the tremendous efforts and contributions made by each one of you and the faith you have shown in the leadership at the BCCI.
“Our strong diplomatic and strategic ties with fellow ICC members have played a vital role in securing this substantial share for India. This is a recognition of the significance of India as a nation in world cricket and underlines the fact that the heart of cricket well and truly beats in India,” he added.
In another major development during the ICC meeting, cricket’s world governing body had announced equal share of prize money for both men and women cricketers at global ICC events.
“The International Cricket Council (ICC) today announced equal prize money for men’s and women’s teams at ICC events. The decision was taken at the ICC Annual Conference in Durban, South Africa and ensures the ICC Board fulfilled its commitment to reaching prize money equity by 2030 well ahead of schedule,” the ICC had said in a statement on Thursday.
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