The International Cricket Council (ICC) has increased its revenue sharing to the Board of Control for Cricket in India (BCCI) by a staggering 72 percent. Following the ICC’s ratification of the revenue distribution to its member boards at its Annual conference in Durban on Thursday, Jay Shah informed the state associations of the development via email on Friday.
“The BCCI has been allocated a share of 38.5% in the new revenue distribution model approved by the International Cricket Council (ICC) Board in its recent meeting held in Durban, South Africa,” the BCCI secretary stated in the mail as per Cricbuzz.
India’s share was 22.4% in the previous cycle and is currently 38.5%, an increase of around 72%. The share held by BCCI has increased significantly. This achievement is a tribute to the combined efforts and support of all BCCI state organisations and officials at the BCCI, Jay Shah in the email added.
The Board of Control for Cricket in India (BCCI) will receive a revenue share of about $231 million, or roughly Rs 2,000 crore per year. The International Cricket Council (ICC) and Indian broadcaster Disney Star inked a huge media rights agreement, which is responsible for this significant increase.
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With this new agreement, Disney Star paid an astounding $3.1 billion to secure the broadcasting rights for the following four years.
The previous broadcast pact, in contrast, was only worth $1.9 billion and lasted eight years. The BCCI’s financial prospects have significantly improved as a result of this significant increase in the media rights transaction.
“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,” Shah further said in his communique.
Jay Shah also disclosed that BCCI received a large allocation for the ICC Strategic Fund. “We have argued for a significant part of monies to be allocated to the ICC’s strategic fund in addition to our component of the revenue distribution. In the upcoming media rights cycle, this fund will play a crucial role in supporting the growth of sport and funding the development of cricket.”
This was acknowledged by Arun Singh Dhumal to the BCCI’s forward-thinking leadership.
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