BCCI records 72 per cent rise from ICC's revenue share
BCCI Secretary Jay Shah expressed his gratitude for this achievement and recognised the contributions made by all parties involved.
Crickate
The International Cricket Council has substantially increased the BCCI's revenue allocation by 72%. Following the ICC's adoption of the new revenue distribution model at its Annual Conference in Durban, BCCI Secretary Jay Shah sent an email to all the state associations informing them of the news.
Under the new model, the BCCI's revenue allocation has increased from 22.4% to 38.5%, a remarkable increase of approximately 72%. This escalation is a result of the combined efforts and support of the state associations and BCCI members.
The increase in revenue distribution can be attributed to an innovative media rights agreement between the International Cricket Council and the Indian broadcaster Disney Star. The extraordinary $3.1 billion, four-year television rights agreement has been crucial to improving the financial outlook of the BCCI. The previous eight-year broadcast agreements were only worth $1.9 billion.
Jay Shah, secretary of the BCCI, expressed appreciation for this accomplishment and acknowledged the contributions of all parties involved.
"This is a substantial increase in BCCI's market share. This accomplishment is a testament to the collective efforts and support of all of our state associations and my colleagues at the BCCI," he was quoted as saying by Cricbuzz.
In addition to its revenue allocation, the BCCI has argued that a substantial amount of money should be contributed to the ICC's strategic fund. This money will significantly facilitate the growth of cricket and the sport itself.
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IPL chairperson Arun Singh Dhumal attributed this achievement to the BCCI's visionary leadership. Under the astute leadership of Mr. Jay Shah, the BCCI has strengthened its global reputation as a visionary board. It was only a matter of time before the ICC acknowledged India's contributions to the game of cricket."
The astonishing increase in revenue allocation demonstrates India's expanding significance in international cricket. India is undeniably a cricketing powerhouse and the foremost nation in the sport. The expansion and development of cricket in the nation will undoubtedly profit from the financial success of the BCCI.
