ICC to share money more evenly

THE International Cricket Council’s (ICC) board has voted to pass a new financial model that will reverse a 2014 decision which effectively put India, England and Australia in control of the game’s finances and administration.

Under the new financial model and governance structure, the split of revenues from the ICC for the years 2016 to 2023 will be altered to address the imbalance currently favouring the three boards.

The measure was passed by 13 votes to one, the governing body said in a statement yesterday after its meetings at its headquarters in Dubai.

The Indian cricket board (BCCI), according to local media, was the only one to oppose the new financial model, which would see their revenue share cut by almost half.

Based on current forecasts for revenues and costs, the BCCI would now receive $293-million, down from the $570m it would have received under the 2014 arrangement.

The ICC said the England and Wales Cricket Board would be the second-best earners with $143m, Zimbabwe would receive $94m while the rest will get $132m each.