BCCI struck a 'good deal' with ICC in terms of revenue: Vinod Rai

| Updated: Jun 25, 2017 04:53 IST

Mumbai (Maharashtra) [India], June 24 (ANI): With the Indian Cricket Team getting whopping USD 405 million from the International Cricket Council (ICC), BCCI Committee of Administrators (CoA) chief Vinod Rai on Saturday lauded BCCI Chief Executive Officer Rahul Johri Acting Secretary Amitabh Chaudhary for cracking the deal and added that the 293 million dollars deal from ICC was wrongly quoted. "Whole lot of things were discussed, firstly people must acknowledge that the team of Rahul johri and Amitabh Chaudhary, who went and attended meeting on behalf of BCCI, have done very well over there. In the governance model, a lot of our suggestions have been accepted," Rai said. Ria further said the BCCI has made a good dead in terms of revenue and added that the BCCI deal to receive 293 million dollars from 2016 to 2023 was wrongly quoted. "I have maintained all along we should not have been chasing USD 50 million or USD 40 million. It has been reported wrongly also that it is 293 million dollars per annum; no it is today 405 million over 8 years. Just imagine we have been fighting for USD 10 million on that we were willing to withdraw from the champion's trophy. So, these issues have been played totally out of proportion. I think we have done a very good deal from the ICC," he said. He said two groups have been constituted, one headed by the Rahul Johri and other by Amitabh Chaudhary of which will head the strategic working group and the governance model group. "In the governance model the best thing which is happening is that the ICC accepting that the governance model is the living document. Which means it is a dynamic document and this government working group which has been set-up is going to make suggestion in case some changes have to be made," he said. Further commenting on the recommendation of the Lodha Committee, Rai said that the BCCI will make the association tomorrow and day after tomorrow they will convene the SGM. BCCI is all set to receive USD 405 million from the ICC as per agreed revenue sharing model. The ICC took the decision during the apex body's annual conference in London. It was earlier reported that, as per the new financial model approved by the ICC after its five-day meet in Dubai earlier this year, BCCI was to receive 293 million dollars from 2016 to 2023. Previously, the BCCI was drawing an amount of 570 million dollars due to its `Big Three` formula. ICC independent chairman Shashank Manohar had initially offered a compromise formula of an additional 100 million dollars, which would have pushed the BCCI`s share to almost 400 million dollars. However, BCCI had rejected this with a counter-offer under which it would still get its 570 million dollars but no other full member`s share would be reduced. The England Cricket Board received 143 million dollars while Zimbabwe Cricket was offered 94 million dollars. The remaining seven Full Members were offered 132 million dollars each. The Associate Members will receive a funding of 280 million dollars. This model was passed by a vote of 13 to 1. (ANI)