Boycott could cost India over $500 mn, feel top Board officials
While the BCCI members are divided over whether India should participate in the Champions Trophy or not, concerns of those, and the Committee of Administrators, keen for the team to play also stems from the possible monetary loss it could suffer in case of a pullout by exercising the Members Participation Agreement (MPA). As per the 2014 ICC constitution, India, England and Australia had contracts different from other boards. Only these three have the right to exercise the MPA if their interests are hurt. If any of them exercises it, as BCCI is threatening to, it will also be out of all ICC events in the 2015-2023 cycle.
It has been learnt that certain members are very keen to exercise it and have been trying to muster the numbers ahead of the Special General Meeting on Sunday. A former top cricket official said, “Let ICC go ahead without India. Let’s see if they can host it.”
TRICKY INVOKING MPA
However, a top board official told HT, “It is not that easy to exercise MPA. Assuming BCCI pulls out and the ICC goes ahead without India, it will hurt a lot because India are due to host two events --Champions Trophy in 2021 and the World Cup in 2023. We’ve already hosted the 2016 World T20 in this cycle and we’ll be foregoing a windfall.”
The ICC events are lucrative as the world body organises them and the hosts also get the hosting fees. As per estimates, India could lose around $100 million in hosting fees if it exercises the MPA. The 2021 Champions Trophy and 2023 ICC World Cup will, in that case, go to others. “That apart, we stand to lose $293 million as well as the $100 million on offer that we are already getting as members’ share ,” the official said.
LOSING PRIZEMONEY
All this adds up to almost $500 million. Add to that the prize money from various ICC events from a total pool of $65 million, in case India win or finish among the top teams, it could lose well over $500 million that it should be getting. The current cycle is from 2015-2023. In the last cycle, India won the 2007 World T20, 2011 50-over World Cup and the 2013 Champions Trophy. What is also of concern is the legal issues that will arise after a pullout. “The ICC may go ahead with legal proceedings and the cost and heavy penalty and compensation, if India loses, will have to be borne by the Indian board.”