PCB revenue to ‘double’ under new ICC financial model

LAHORE: Pakistan Cricket Board (PCB) on Monday, announced accepting the new International Cricket Council (ICC) financial model, saying board revenue is set to double under the plan.

The decision was made at ICC meeting and annual conference held in Durban, South Africa, from July 10 to 13. A PCB delegation headed by Chairman Management Committee Zaka Ashraf attended the meeting.

The “Financial and Distribution Model 2024-27” envisages largest-ever investment to go into global cricket and provides a huge opportunity for the game to grow further.

In determining 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.

“PCB, in accordance with its constitutional right, has over the past few weeks and at the ICC meetings, consistently sought additional information to better understand the rationale behind the allocation of weightage to each of the criteria and the calculation of the distributions.

“The PCB felt in the absence of all relevant information, data and formulae, such a significant decision should not be taken in haste. The PCB, therefore, proposed that this item may be deferred to the next ICC meeting,” said the statement issued by the cricket board.

“Ultimately, the majority of members did not find it feasible to defer this item and voted in favour of passing the model, while the PCB recorded its dissent as a matter of principle,” it added.

The statement added that team’s performance in the men’s ICC events and in bilateral cricket, PCB’s own huge fan base, which leads to significant commercial value, the PCB was ranked amongst top-four nations in this model.”

Therefore, the board will receive more than two times the revenue when compared to the last cycle, said the statement.

PCB said increased share of revenue will lead to  greater investment in developing cricketing skills and will be beneficial in taking Pakistan cricket to new heights