The International Cricket Council's decision to revamp the revenue-distribution model will likely see the Board of Control for Cricket in India (BCCI) earn close to 40 per cent of the ICC's annual net earnings in the next four-year commercial cycle from according to reports.
The BCCI will earn close to US$230 million annually from 2024 to 2027 -- or 38.5 per cent of ICC's approximate annual earnings of US$600 million.
"This is a significant increase in BCCI's share. This achievement is testament to the collective efforts and support of all our state associations and my colleagues at the BCCI," BCCI secretary Jay Shah wrote in a letter to the state associations, on Friday.
"This allocation reflects the tremendous efforts and contributions made by each one of you and the faith you have shown in the leadership at the BCCI.
"Our strong diplomatic and strategic ties with fellow ICC members have played a vital role in securing this substantial share for India. This is a recognition of the significance of India as a nation in world cricket and underlines the fact that the heart of cricket well and truly beats in India."
Indian Premier League (IPL) Chairman Arun Dhumal was a BCCI representative at ICC's CEC on Thursday, and he expressed gratitude to the International Cricket Council (ICC) on behalf of the BCCI for approving the revamped revenue-model distribution and equal prize money for men’s and women’s teams at ICC events.
While speaking to the media Dhumal said, "The BCCI would like to express its gratitude and appreciation to the ICC for approving the revamped revenue-distribution model during the ICC’s AGM in Durban."
He further reflected on the recent measures taken by the BCCI to promote pay parity and said, "The BCCI has in recent years bolstered its global standing as a visionary board under the astute leadership of Jay Shah in the pantheon of cricket, wherein the BCCI has lead by example be it the WPL, pay parity for women or the proliferation of the sport globally with the IPL. It was thus, just a matter of time before it’s contributions to the game of cricket were recognised by the ICC the apex governing body for cricket globally. I am certain under Secretary Jay Shah, Indian cricket will continue to fulfil its role of leading by example with pathbreaking initiatives and going from strength to strength, both on and off the field."
During the ICC Annual Conference held in Durban, South Africa on Thursday, the ICC officially declared equal prize money for both men's and women's teams participating in ICC events. Additionally, adjustments were made to the over-rate sanctions in Test cricket.
"The decision was taken at the ICC Annual Conference in Durban, South Africa, and ensures the ICC Board fulfilled its commitment to reaching prize money equity by 2030 well ahead of schedule," ICC said in an official statement.
The ICC from the next cycle will award the same prize money to men's and women's champions and runners-up teams at its global events.
The MCC World Cricket Committee believes that a substantial and ring fenced ICC strategic fund can be allocated on a requirement basis to full member and associate nations who, amongst other key initiatives, fully commit to their women's pathway and national team.
"In addition to our share in the revenue distribution, we have also advocated for a substantial portion of funds to be allocated to the ICC's strategic fund," Shah said.
"This fund will be instrumental in fostering the growth of sport and investing in the development of cricket in the next media rights cycle," he added.
India's revamped revenue share, as expected, got a stamp of approval at the ICC Board in Durban, which means they stand to gain about 72 per cent.
