Under new business model, BCCI revenue from ICC falls by 29% to $405 mn

Board of Control for Cricket in India (BCCI) is all set to receive $405 million from the International Cricket Council (ICC) according to agreed revenue sharing model.

The ICC took the decision during the apex body's annual conference in London.

According to the new financial model approved by the ICC after its five-day meet in Dubai earlier this year, the BCCI was to receive $293 million from 2016 to 2023.

Previously, the BCCI was drawing an amount of $570 million due to its 'Big Three' formula.

ICC Independent Chairman Shashank Manohar had initially offered a compromise formula of an additional $100 million, which would have pushed the BCCI's share to almost $400 million.

However, the BCCI had 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.

The England Cricket Board received $143 million while Zimbabwe Cricket was offered $94 million.

The remaining seven full members were offered $132 million each. The associate members will receive a funding of $280 million. This model was passed by a vote of 13 to 1.