Monday, the Pakistan Cricket Board (PCB) agreed to the International Cricket Council’s (ICC) new financial plan, saying that the board would now get a bigger share of the money. The “Financial and Distribution Model 2024-27” calls for the most money to be put into cricket ever, giving the game a big chance to grow even more. From July 10 to 13, a PCB team went to Durban, South Africa, for the ICC meeting and annual conference. Several things were talked about there.
In determining the distribution share to members, the model considers on and off-field performance, including cricket rankings, performance at ICC events, and commercial contribution to the ICC Events. “According to its constitutional right, the PCB has been asking for more information at ICC meetings and over the past few weeks to understand better why each factor was given a certain amount of weight and how the distributions were worked out.
PCB to earn “more than two times” with ICC’s new funding arrangement
“The PCB thought that since they didn’t have all the important information, data, and formulas, they shouldn’t rush to make such a big choice. The PCB, therefore, proposed that this item may be deferred to the next ICC meeting,” the cricket board said.
“In the end, most members didn’t think it was possible to postpone this item, so they voted to pass the model, while the PCB voiced its disagreement on principle,” the report said. According to the communique, the team’s performance in the men’s ICC events and bilateral cricket, the PCB’s huge fan base, which leads to significant commercial value, the PCB was ranked amongst the top-four nations in this model.”
Therefore, the statement said the board would receive more than two times the revenue compared to the last cycle. The PCB said that the increased revenue share will lead to far greater investment in developing cricketing skills and will be beneficial in taking Pakistan Cricket to new heights. As reported by ESPNcricinfo, India’s new revenue share in the ICC’s finance model would stand at 38.5%, while England and Australia would bag 6.89 and 6.25%, respectively.
Pakistan is set to earn 5.75% of the ICC’s projected earnings, which will come primarily through ICC’s $3 billion media rights deal for 2024-27. PCB Chairman Zaka Ashraf held several meetings with fellow cricket board officials on the sidelines of the ICC meetings, where collaborations and mutually beneficial programs to further cricket development and growth were discussed.
On Saturday, July 15, a meeting was held between the PCB and Asian Cricket Council (ACC) officials regarding finalizing the schedule of the Asia Cup 2023, logistical and organizational arrangements, and marketing campaigns. The finalized schedule is likely to be announced this week.