According to The International Cricket Council, Men’s and Women’s teams will now receive equal prize money.
Marking a significant milestone in history, the recognition and reward system transition for the women’s cricket team has noticeably changed. After the ICC authorities ruled out a big decision, BCCI is all set to receive a significant share of the ICC’s earnings, adding to equalizing rewards for women cricketers at global events. This will majorly affect the women’s cricket team and enhance other benefits for BCCI.
During the following cricketing cycle, from 2024 to 2027, the Board of Control for Cricket in India (BCCI) would receive a larger slice of the ICC’s income share – 38.5% of net earnings. The decision was made at the annual board meeting of the ICC in Durban. The BCCI will earn around $231 million annually and $924 million over a four-year cycle. During the previous cycle, which lasted eight years from 2015 to 2023, India earned 22.8% of ICC revenue, or $46.7 million annually, and $373 million overall.
In the new cycle, the England and Wales Cricket Board (ECB) will earn around 6.89%, while Cricket Australia (CA) will receive approximately 6.25%. When it comes to revenue-sharing earnings, the ECB and CA are second and third after the BCCI.
“The success of our media rights and commercial programme for our next four-year cycle means we are able to invest more money than ever before into our sport. All Members will get a base payout, with additional revenue based on contributions to the global game on and off the field. This is by far the most significant investment in cricket history, and it represents a once-in-a-generation opportunity for our Members to accelerate growth, engage more players and spectators, and drive competitiveness. I’m delighted that the board has also committed to a strategic investment fund, which will help to accelerate the delivery of our Global Growth Strategy.” said the ICC Chair Greg Barclay.
The IPL chairman, Arun Dhumal, who attended the ICC CEC (Chief Executive Meeting), stated that BCCI secretary Jay Shah persuaded the other cricket bodies to agree to a proposal for a larger share. He also clarified that there was no debate at all. Shah spoke with other boards to explain why it is reasonable for India to receive a more significant proportion. The intent is to improve their domestic cricket; the better it is, the more they can feed world cricket.
Equal Prize Money for Women Cricket Team – Announced By ICC
The ICC also declared equal prize money for men’s and women’s teams at its worldwide events to achieve pay parity. In the last 50 over men’s World Cup, champions England got $4 million, and runners-up New Zealand received $2 million. The champions of the last 50 over men’s World Cup, England, got $4 million.
“This is a significant moment in the history of our sport, and I am delighted that men’s and women’s cricketers competing at ICC global events will now be rewarded equally. Since 2017, we have increased prize money at women’s events every year with a clear focus on reaching equal prize money, and from here on in, winning the ICC Women’s Cricket World Cup will carry the same prize money as winning the ICC Men’s Cricket World Cup and the same for T20 World Cups and the U19s too,” said Barclay in a press release.
According to sources, BCCI secretary Jay Shah played a crucial role as the head of the financial and commercial affairs committee, which propelled the pay parity effort. Last year, the Indian board agreed on equal pay for men and women.
“I am thrilled to announce that a major step towards gender parity and inclusivity has been undertaken. The prize money at all @ICC events will be the same for men and women. Together we grow.”
—— Jay Shah’s Tweet
Limiting the Participation of Overseas Players
In the future, teams in new franchise leagues will be limited to four international players. With leagues sprouting up worldwide, ICC members thought there was a need to limit international players’ involvement. Meanwhile, the Chief Executive Committee agreed to modifications for over-rate fines in Test cricket to strike a compromise between preserving over-rates and ensuring players are well compensated.
According to ICC, players will be fined 5% of their match fee for each over they fail to complete, up to a maximum of 50%. If a side is bowled out before the new ball is due at 80 overs, no over-rate penalty is enforced, even if the over-rate is slow. This will replace the current 60-over threshold.
The event amounts to the most significant change in the history of the cricket. The cricket governing bodies have always been responsive to necessary system changes. The ICC and BCCI work together to develop and promote cricket while upholding fair play and sportsmanship.