ICC releases India's World Cup prize money

The International Cricket Council has released over $900,000 the Indian team had earned for reaching the final of the 2003 World Cup in South Africa, Board of Control for Cricket sources said on Thursday

But the ICC has released the money, according to the sources, with the condition that 30 per cent of the amount be kept aside as a cover for demand, if any, from the South African Revenue Service, who were the local regulators of the World Cup.

Referring to media reports that the ICC had only withheld the money earned by the Indian team, a senior BCCI official said the world body did the same with the rest of the participating nations too, including winners Australia.

A winner in the league stage of the World Cup received $10,000. It jumped to $40,000 for the winners in the Super Six stage, $400,000 in the semi-finals and $2,000,000 in the final.

The runner-up's share was $800,000.

The Indian players are fortunate to have received tax exemption from Finance Minister Jaswant Singh for their sterling performance in the World Cup, unlike cricketers from some other countries, including minnows Kenya, who have gone public in their appeal to the government to waive tax.

Kenyan captain Steve Tikolo, whose team became the first non-Test playing side to reach the semi-finals of the World Cup, recently made a request to his government to waive the tax on income from the World Cup. "We did a good job for the nation, which the government should appreciate and give us a tax waiver"" he said.

Though the ICC has released the prize money due to the Indians, it has withheld another 8-9 million dollars due to the BCCI as guarantee money, for any possible claims made by the sponsors -- Global Cricket Corporation -- of the event for breach of contracts.

The ICC has similarly held back $3.5 million guarantee money due to England Cricket Board for their refusal to play in Zimbabwe during the World Cup and $2.5 million due to New Zealand Cricket for deciding against playing in Kenya.

Besides the considerable prize money, most of the Indian players are already richer by more than Rs 7 million each as match fees and sponsor's logo money from the BCCI for their participation in the World Cup.