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.
External Affairs Minister Sushma Swaraj praises Jaipur Foot in front of Ambassadors around the world, Exhibition next year in Washington
Pali: Jaipur Foot USA expressed gratitude to Prime Minister Narendra Modi and External Affairs Minister Sushma Swaraj in a meeting...
Donald Trump vows ‘severe punishment’ if journalist killed by Saudi
US President Donald Trump has said Saudi Arabia could be behind the disappearance of missing journalist Jamal Khashoggi and warned...
Country owes you a debt: Rahul Gandhi tells HAL workers
Stepping up his attack on the Narendra Modi government over the Rafale controversy, Congress president Rahul Gandhi on Saturday de...
Mani Shankar Aiyar, Karan Thapar play the devil’s advocate at Khushwant Singh Lit Fest
On the second day of the Khushwant Singh Literary Festival, the audience at Kasauli on a chilly morning was ruddy-faced with laugh...
Can put anything on website, allegations against minister MJ Akbar need to be verified, says Amit Shah
Bharatiya Janata Party President Amit Shah has said that he was not in a position to comment on MJ Akbar, who is facing multiple...
Indian Navy acquires deep submarine rescue capabilities
Enhancing its operational capabilities, the Navy has inducted its first deep submergence rescue vehicle which is deployed to rescu...
India vs West Indies: Ravindra Jadeja explains bizarre run-out dismissal in Rajkot Test
It was a day to remember for Ravindra Jadeja as he produced an all-round effort to put India in a commanding position against West...
Punjab refuses to toe line of BJP-ruled states on fuel price cut
Congress-ruled Punjab has refused to follow in the footsteps of the Bharatiya Janata Party-ruled states on cutting value-added tax...
4 dead after 40-ft billboard frame collapses on vehicles in Pune
The frame of a billboard 40-foot in height collapsed onto the Shahir Amar Shaikh chowk on Friday afternoon at Junna Bazaar, killin...
Pakistan’s allegation of use of chemical weapons in Kashmir false, malicious: India
India Friday rejected as false Pakistan’s allegations of reported use of chemical weapons by Indian security forces in Kashmir, sa...
© All rights Reserved. The south Asian, Published Weekly from New york.