BCCI Set To Get A 37% Share Of The ICC's Revenue For The 2024-2027 Cycle - Reports
Published - 14 Apr 2023, 07:43 PM | Updated - 23 Aug 2024, 12:15 AM
The International Cricket Council (ICC), the International Cricket Council’s all-powerful Finance and Commercial Affairs Committee (F&CA), is considering proposing a new revenue-sharing model for the 2024-2027 cycle. According to the reports, the Board of Control for Cricket in India (BCCI) is likely to receive 37% of the ICC’s revenue.
This is a huge increase from the previous cycle, which received 22.8% from 2016 to 2023. The Indian Cricket Board made $405 million during the period. The Indian market alone has contributed more than 75% of the ICC’s earnings for a long time, but media rights auctions for the next cycle have revealed that India’s contribution is much higher than previously.
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The Indian market alone contributed $3.04 billion, accounting for 88-90% of the total ICC revenue. Disney Star bought both the digital and television rights for the cycle and later entered into a licensing deal with Zee for the television rights, allowing Zee to telecast the ICC Men’s and U-19 tournaments in the 2024-2027 cycle.
“For the first time the ICC decided to sell the rights territory-wise. In that, the India market alone fetched $3.04 billion. By ICC’s own “75% theory”, this $3.04 billion should be 75% of all their global revenues right? But do you think the rest of the world, collectively, is contributing 25%?” the report said.
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The ICC signed an eight-year deal with Sky for the UK and Europe, unlike other markets, as a four-year deal cost the ICC nothing. The four-year sale of the Australian rights cost an estimated $60 million, and the rest of the world didn’t even bring US$500 million to the table.
“That means the Indian market alone is contributing 88 to 90% of ICC’s revenues. You go asking around in the industry and those who run the finances of the game will tell you — there was never any Big 3. There’s always been only Big 1.”
Look at the amount coming in just for the media rights sold for the Indian market for 2024-2027 cycle. The number is humongous and is clearly filling up ICC coffers considerably. There will be two T20 World Cups, one Champions Trophy and one 50-over World Cup in the next cycle. Plenty of big-ticket tournaments will be played,” industry sources tracking developments said.
The BCCI discussed the tax issue ahead of the 50-over World Cup to be held in India. The board is set to ask the ICC to deduct a 21.84% tax surcharge on ICC World Cup broadcast revenues, which are expected to be around Rs. 955 crores. This tax surcharge is expected to be offset by the gains of the 2024–2027 cycle.
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