(MENAFN- NewsBytes) 'Egg on the face' moment for BCCI at ICC meet
BCCI was left "humiliated" at the ICC Board meeting in Dubai, where it was overwhelmingly outvoted in favor of changes in the governance and revenue structures.
The Indian cricket board lost the vote on 'governance and constitutional changes' by a margin of 2-8, and lost the vote on financial model, a bigger point of contention, by a whopping 1-9 margin.
Timeline 27 Apr 2017: 'Egg on the face' moment for BCCI at ICC meet
BCCI was left "humiliated" at the ICC Board meeting in Dubai, where it was overwhelmingly outvoted in favor of changes in the governance and revenue structures.
The Indian cricket board lost the vote on 'governance and constitutional changes' by a margin of 2-8, and lost the vote on financial model, a bigger point of contention, by a whopping 1-9 margin.
Fact: Who all get to vote on the ICC reforms?
The ten Full Member nations are eligible to vote to bring about changes to constitutional and financial structures of the ICC. They are - Australia, Bangladesh, England, India, New Zealand, Pakistan, South Africa, Sri Lanka, West Indies, and Zimbabwe.
27 Apr 2017: How do the reforms impact BCCI monetarily?
The reforms effectively bring an end to the Big Three Model, adopted in 2014 under the ICC chairmanship of N Srinivasan.
Under the Big Three model, India, Australia, and England boards were to get a lion's share (20.3% each) of ICC revenues.
Once the changes are implemented, BCCI will get $290 million instead of the $570 million it had been getting until last year.
27 Apr 2017: BCCI rejects additional $100 million settlement offer
Indian cricket board refused ICC's extra $100 million settlement offer which would have taken its total revenue to $390 million.
BCCI was miffed with ICC chairman Shashank Manohar who was against any deferment of the decision. A senior official said, "Our tone was extremely conciliatory at the meeting for the best interest of the game. But what was shocking was Mr Manohar's stance."
Fact: 70% revenue from India
According to estimates, roughly 70% of the ICC's revenue is from the Indian cricket market.
27 Apr 2017: India to mull over Champions Trophy pull out PC: .cls-2{fill:#9c9c9c;}
BCCI has called for a SGM (Special General Meeting) to decide the future course of action.
The board now has two options : it can either fall in line with ICC's new changes or invoke the Members Participation Agreement (MPA).
The latter gives them the right to pull out of Champions Trophy and to take legal recourse against approved changes.
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