PCB approves the new financing model from ICC. The International Cricket Council’s (ICC) new finance structure has been approved by the Pakistan Cricket Board (PCB).
The Board of Control for Cricket in India (BCCI) will greatly profit from the new funding model, according to a press release issued by PCB on Monday.
“In accordance with its constitutional right, the PCB has repeatedly asked for more information over the past few weeks at the ICC Meetings to better understand the justification for assigning weightages to each of the criteria and the calculation of the distributions. The PCB believed that such a critical choice should not be made hastily in the absence of all pertinent facts, data, and formulas.”
The PCB consequently suggested that this topic be postponed until the following ICC conference. The PCB issued a lengthy statement on the issue, stating that the majority of members ultimately did not think it was possible to postpone this matter and voted in favour of passing the Model, while the PCB recorded its disapproval as a matter of principle.
As previously reported by ESPNcricinfo, the new income share for India under the ICC’s financial model would be 38.5 percent, while the revenue shares for England and Australia would be 6.89 and 6.25 percent, respectively. With a $3 billion media rights deal for the years 2024 to 2027, Pakistan is expected to get 5.75 percent of the ICC’s estimated earnings.
According to the PCB, the larger revenue share will encourage significantly more investment in improving cricketing abilities and help Pakistan Cricket reach new heights.
On the fringes of the ICC meetings, PCB Chairman Zaka Ashraf met with other members of the cricket board in a number of settings to discuss partnerships and mutually beneficial initiatives to advance the growth and development of the sport.
The PCB and Asian Cricket Council (ACC) officials met on Saturday, July 15, to discuss finalising the Asia Cup 2023 calendar, logistical and organizational plans, and marketing initiatives.
