ICC Approves Revised Financial Model, New Constitution
The International Cricket Council (ICC) concluded five days of Board and Committee meetings in Dubai with a number of decisions passed, including a revised financial model. In addition, agreement on a new constitution to be put before the ICC Full Council was also reached.
With a Board meeting, Chief Executives’ Committee, Development Committee, Audit Committee, Financial and Commercial Affairs Committee and Women’s Committee and Forum, it was a full week of meetings.
Governance and Financial Model
Following the decision in February 2017 to reverse the 2014 resolutions, a revised financial model was presented to the Board and passed. The Board appointed a working group which proposed the model has continued to be guided by the following principles:
•Equity
•Good conscience
•Common sense and simplicity
•Enabling every Member to grow
•Revenue generated by Members
•Greater transparency
•Recognition of interdependency amongst Members; that cricket playing nations need each other and the more strong nations there are, the better for the sport.
As such the revenue distribution for the cycle 2016-2023 will be as follows:
Based on current forecasted revenues and costs, BCCI will receive $293m across the eight year cycle, ECB $143m, Zimbabwe Cricket $94m and the remaining seven Full Members $132m each. Associate Members will receive funding of $280m. This model was passed 13 votes to one.
A revised constitution was also approved by 12 votes to two. This takes into account the Board’s feedback following extensive discussion at the February meeting and further input from the working group. It will now be presented to the ICC Full Council in June for adoption. The constitution reflects good governance, expands on and clarifies the roles and objectives of the ICC to provide leadership in international cricket. Further constitutional changes proposed include:
- The potential to include additional Full Members in the future subject to meeting Membership criteria
- Removal of the Affiliate level of Membership so only two categories; Full Member and Associate Member
- The introduction of an independent female director
- The introduction of Membership criteria and a Membership Committee established to consider membership applications
- The introduction of a Deputy Chairman of the Board who will be a sitting director elected by the Board to stand in for the Chairman in the event that he or she is unable to fulfil their duties
- Equal weight of votes for all Board Members regardless of Membership status
- All Members to be entitled to attend the AGM
Under the revised version that will be presented to the Annual Conference and in an effort to support existing Full Members, the potential for reclassification of Full Membership was removed. The Board acknowledged the need to sustain and grow the number of members competing at the top level.
ICC Chairman Shashank Manohar said: “This is another step forward for world cricket and I look forward to concluding the work at the Annual Conference. I am confident we can provide a strong foundation for the sport to grow and improve globally in the future through the adoption of the revised financial model and governance structure.”
Noting the BCCI’s commitment to reconsidering the matter in the near future, the Chief Executives’ Committee reconfirmed its support for cricket’s inclusion in the Olympics.
ICC Chief Executive David Richardson said: “It has been a very productive week. Progress has been made on a number of significant issues, in particular around international cricket structures. Efforts to find a solution, enhancing the context of international bilateral cricket and retaining the relevance of the international game, will continue.”
PIX: The ICC meeting in progress
