The Board of Control for Cricket in India, the major income generator in the sport, had its proposed share of forecast revenue cut to US$293 million (NZ$426m) across the eight-year cycle, with the England and Wales Cricket Board getting US$143 million (NZ$208m) and Zimbabwe Cricket will get US$94 million (NZ$135m). "ICC officials have in fact told us that if we agree to United States dollars 390million, they will get it ratified at a Board Meeting in May", a senior BCCI office-bearer told PTI Thursday.
The International Cricket Council is revising its financial model to bring an end to a potential domination by its "Big Three" members - India, England and Australia.
"Progress has been made on a number of significant issues, in particular around worldwide cricket structures", ICC Chief Executive David Richardson said in a statement on Thursday.
Najam Sethi, Chairman of PCB's Executive Committee tweeted on Wednesday night that they have conveyed it to the BCCI officials on then sidelines of ICC Executive Board meeting in Dubai. The Associate Members will receive a funding of 280 million dollars.
A revised constitution was approved by 12 votes to two. This takes into account the ICC board's feedback following extensive discussion at the February meeting and further inputs from the working group. The decisions would have to be ratified at the ICC's annual conference in June.
"The Constitution reflects good governance, expands on and clarifies the roles and objectives of the ICC to provide leadership in global cricket", the ICC statement said.
Among other proposed changes to the constitution, all members will be given equal weight in voting regardless of membership status.
The ICC's independent chairman Shashank Manohar reportedly pitched a compromise, which could have netted India another £77million, but with no agreement the original proposal was voted on and passed with a 13-1 majority and India isolated. "The board acknowledged the need to sustain and grow the number of members competing at the top level". "But Shashank Manohar was in no mood to budge", the source said.
ICC independent chairman Shashank Manohar had initially offered a compromise formula of an additional 100 million dollars, which would push the BCCI's share to nearly 400 million dollars. "Also no change in governance structure", he reiterated.