In a significant development at the International Cricket Council’s (ICC) Annual Conference held in Durban, the Board of Control for Cricket in India (BCCI) emerged as a major beneficiary. The BCCI’s revenue share has been substantially increased to 38.5 percent of the ICC’s annual income, a remarkable rise from the previous cycle’s allocation of 22 percent. This revision could potentially translate to over $231 million per year, equivalent to nearly 2000 crore in INR.
The ICC board’s approval of this finance revenue-share model is a testament to the growing influence and financial strength of the BCCI within the cricketing world. The increased revenue share will empower the BCCI to continue its initiatives aimed at the development and growth of the sport in India.
Another noteworthy decision made during the conference was the introduction of pay parity for men and women participating in global cricket events. This concept, previously implemented by the BCCI in Indian cricket, has now been embraced by the ICC. Men and women cricketers will now receive equal prize money, ensuring gender parity and inclusivity in the sport.
The proposal for equal pay for men & women was made by Jay Shah in ICC General Meeting
The proposal for pay parity was put forward by Jay Shah, the BCCI secretary, during the Finance and Commercial Affairs Committee (F&CA) meeting held prior to the conference. Expressing his enthusiasm for this landmark decision, Shah took to social media, stating, “I am thrilled to announce that a major step towards gender parity & inclusivity has been undertaken. The prize money at all @ICC events will be the same for men & women. Together we grow. Let’s work towards a future where cricket continues to thrive across the globe.”
While exact figures for the revised prize money structure have yet to be determined, the decision ensures that both men’s and women’s teams will receive equal rewards for their performances. For instance, if the Indian men’s team were to win the upcoming World Cup and earn $5 million in prize money, the women’s team would also receive an equivalent amount for a similar achievement.
The ICC’s commitment to achieving prize money equity by 2030 is well ahead of schedule with this decision. Teams will now be awarded equal prize money for equivalent finishing positions in comparable events, as well as the same amount for winning a match.
ICC Chair Greg Barclay hailed this moment as a significant milestone for the sport, stating, “This is a significant moment in the history of our sport, and I am delighted that men’s and women’s cricketers competing at ICC global events will now be rewarded equally.”
New T20 leagues could now have only four overseas players in the Playing XI
The ICC board’s approval of the finance model, while not providing a detailed breakdown of revenue share for individual member boards, ensures that each member will receive higher funding than in the previous cycle. This substantial investment will support global growth initiatives aligned with the ICC Global Growth Strategy, securing a prosperous future for cricket.
In addition, the Chief Executives Committee (CEC) reviewed regulations pertaining to franchise-based Twenty20 leagues worldwide. Existing leagues such as the Indian Premier League (IPL), Big Bash League (BBL), and Canada Premier League will not be affected by the reviewed regulations. However, future leagues will be required to adhere to certain guidelines, including a maximum of four international players in the playing XI and the payment of a solidarity fee to the player’s home board.
The ICC’s commitment to financial equity, gender parity, and promoting the development of cricket on a global scale underscores the organization’s dedication to strengthening the sport. These decisions mark a new era of inclusivity and fairness, fostering the growth and unity of cricket across all levels.