ICC chairman Shashank Manohar (left) and the BCCI have been at loggerheads over the new revenue-sharing model for the past few months. The BCCI argues Indian market generates 70 per cent of global revenues and therefore, should get a larger pie. Photograph: (Zee News Network)
BCCI's acting secretary Amitabh Choudhary has said that the $400 million offer presented by the International Cricket Council (ICC) before India is "far less than what the country deserves", seeing BCCI's contribution to global cricket revenues.
"Because it is far less than what India deserves fairly," ESPNcricinfo quoted Choudhary as saying to a leading daily when asked why he did not agree to the settlement deal.
The BCCI secretary contended that the Indian market contributed 70 per cent of the global cricket revenue and, therefore, it was natural for India to get the lion's share.
"Why do you forget that a disproportionate share of revenues to cricket comes from India? It's very easy and misleading to say that India is getting a disproportionate share," he said.
"The facts are that over 70 per cent of cricket's revenue world over comes from the Indian market. That [the $293 million offered by the ICC] is not even close to the contribution that India makes," he added.
The ICC on Thursday abolished the 'Big Three system' and approved a new financial model after its meet in Dubai, under which the BCCI will receive $293 million from 2016 to 2023. Previously, the board was drawing an amount of $570 million due to its ' Big Three' formula.
This might not have gone down well with the Indian board as the new model eats into its share.
ICC independent chairman Shashank Manohar had initially offered a compromise formula of an additional $100 million, which would push the BCCI's share to almost $400 million.
However, BCCI rejected this with a counter-offer under which it would still get its $570 million but no other full member's share would be reduced.
Manohar, had in February while presenting the finance model for the first time, had said the basic premise was to allow every member country to get an equitable share.
To which the BCCI had objected, saying it could not accept the finance model without any scientific basis.
Choudhary further said that any decision on revoking the Members Participation Agreement (MPA) could only be taken by the BCCI, which has called for a special general body meeting (SGM) on May 7.
With the new revenue model getting the nod, BCCI will now have to do with what they have in the eight-year cycle. The England Cricket Board received $143 million while Zimbabwe Cricket received $94 million.
The remaining seven Full Members will receive $132 million each. The Associate Members will receive a funding of $280 million. This model was passed by a vote of 13 to 1.