South Asian Insider
Despite roll back, BCCI will earn around Rs 2,500 crore
Why is this ICC’s Dubai meeting on revenue sharing extremely crucial for India?
The major agenda in the ICC meet is about abolishing what has come to be known as the Big Three model. In 2014, the then BCCI president N Srinivasan proposed that three countries – India, England and Australia – should get the major share of ICC’s revenue as they bring in the most money into the organisation. He suggested that revenue be divided as per their contribution to ICC’s kitty. As per that, India would get 20.3%, England 4.4% and Australia 2.7% – thus taking 27.4 % cumulatively of the total revenue from 2015-2023 cycle.
However, when Shashank Manohar became ICC chairman in 2015, he equated the suggestion as bullying smaller cricketing nations. It’s not as if he didn’t want India to get the lion’s share but wanted a more equitable sharing. The Indian board opposed it and even told the Supreme Court that they stood to lose thousands of crores if the new financial structure was passed.
How was it before this model?
Before 2014, ICC used to equally distribute money to all its 10 Test playing full members (US $67 million each). However, the Big Three model made it clear that those who contribute more money in ICC’s purse will get a bigger share.
How much money was to be disbursed according to Big Three model?
There are three components involved here as proposed by N Srinivasan. Firstly, every country would be distributed $62 million each from the ICC kitty. Secondly, there is a Test cricket fund of $10 million that is given to all Test playing countries except the Big Three. Through this fund, Srinivasan wanted to show that India was not being a bully and helping non-Big Three members develop game in other countries.
The bone of contention involved the second handout, namely the ‘contribution cost’. As per the Big Three model, India would get US$ 507 million (Rs 3,400 crores approx) as contribution cost from 2015-2-23. England would get US $110 million (Rs 739 crores) and Australia US$67 million (Rs 450 crores).
What is ICC chairman Shashank Manohar’s objection?
He saw the Big Three garnering a giant share as bullying, and not necessarily according to market economics. For example, smaller cricketing nations like Bangladesh and Zimbabwe would have got US$ 5 million (Rs 33.61 crores) and US$ 3 million (Rs 20 crores approx) in the eight-year cycle. In contrast, India’s number was $507 million. This discrepancy didn’t sit well with Manohar, and his view was supported by all countries except India. Manohar had once spoken of cutting 6% of BCCI revenue and distributing it among the members outside the big three. Even in this eventuality, BCCI would earn around Rs 2,500 crores.
2018 Fourth Warmest Year in Continued Warming Trend, According to NASA, NOAA
Earth's global surface temperatures in 2018 were the fourth warmest since 1880, according to independent analyses by NASA and the...
Rich people don't know what Rs 6000 means for poor farmers: PM
(Agencies)- Prime Minister Narendra Modi Sunday took a swipe at the Opposition for criticising his government's farmers' income p...
US pull-out from Afghanistan: It's advantage Taliban
(Agencies)- President Donald Trump declared victory against the ISIS in December 2018 and decided to withdraw all US forces from ...
Mueller prosecutor leaves team in latest sign investigation is winding down
(Insider Bureau)- A criminal appellate prosecutor who was part of an ongoing subpoena fight related to the special counsel's inve...
Robert Vadra leaves ED office after 6 hours, to be questioned again
(By a Staff Reporter) - Robert Vadra, the brother-in-law of Congress chief Rahul Gandhi, was Wednesday questioned by Enforcement D...
Mayor De Blasio appoints reverend Dominiquec atchison as executive Director of the Mayor’s center for Faith and Community Partnership
NEW YORK (Insider Bureau)-Mayor Bill de Blasio announced the appointment of Rev. Dominique C. Atchison, MDiv as Executive Director...
Ex-army chief Gen JJ Singh joins 'genuine' SAD (Taksali)
(Insider Bureau) Nearly two months after resigning from the Shiromani Akali Dal (SAD), former Indian Army chief General JJ Singh (...
10 Maoists killed in Chhattisgarh’s Bastar, 12 arms recovered
At least ten Maoists were killed on Thursday in an ongoing gun battle with security forces deep in a jungle in Chhattisgarh’s Bija...
BJP youth wing, police clash over rising unemployment in Odisha
The youth wing of the Bharatiya Janata Party (BJP) in Odisha on Thursday clashed with the police while marching towards the state ...
Centre moves to strip police officers of medals for ‘joining’ Mamata dharna
Senior West Bengal police officers, who allegedly participated in the sit-in by Chief Minister Mamata Banerjee, could get in troub...
© All rights Reserved. The south Asian, Published Weekly from New york.