Board of Control of Cricket in India (BCCI) bagged the largest chunk of International Cricket Council (ICC) revenue share as it received a whopping $230 million. The amount is around 38% of the overall ICC revenue of $600 million. Pakistan Cricket Board expressed disappointment over its small share of 5.75% amounting to ₹$34.5 million. PCB shared questions on the methodology of revenue distribution.
“PCB, in accordance with its constitutional right, has over the past few weeks and at the ICC Meetings, consistently sought additional information to better understand the rationale behind the allocation of weights to each of the criteria and the calculation of the distributions,” the board said in a statement which was quoted by news platform NDTV Sports.
“The PCB felt in the absence of all relevant information, data, and formulae, such a significant decision should not be taken in haste,” the statement further read.
The proposal made by the PCB to delay the voting process for the model’s approval until the next ICC meeting was not supported by other members. As a result, the ICC proceeded to finalize the model without the suggested postponement, the NDTV report said.
PCB welcomes increase in earning
Despite the PCB’s disagreement with the revenue model, it acknowledged the positive aspect that the board’s earnings would increase significantly, almost doubling compared to the previous amount.
“Ultimately, the majority of members did not find it feasible to defer this item and voted in favor of passing the Model, while the PCB recorded its dissent as a matter of principle,” the statement added.
“This increased share of revenue will mean that a far greater investment can be made in developing cricketing skills and will be beneficial in taking Pakistan Cricket to new heights,” it noted.
Download The Mint News App to get Daily Market Updates & Live Business News.
More
Less
Updated: 19 Jul 2023, 04:01 PM IST
For all the latest Sports News Click Here
