The International Cricket Council's (ICC) full members on Wednesday outvoted the Board of Control for Cricket in India (BCCI) and agreed to introduce a new financial model along with governance changes, essentially rolling back the Big Three system currently in place, reported ESPNcricinfo.

The BCCI was the only member to vote against the financial model and was one of two boards which voted against the new governance model.

The financial model received a 9-1 vote in favour, while changes in the governance structure were passed by an 8-2 margin.

Although the new ICC constitution has a majority vote, it will be approved formally during the annual conference in June 2017.

The BCCI was alone in its opposition to the new finance model. Its office bearers had rejected ICC's settlement offer worth approximately $400 million and demanded $570 million under the earlier arrangement.

The decision to make sweeping changes in the ICC's constitution was initially taken at the council's first board meeting of 2017 in Dubai. The ICC Board had agreed to revise financial distribution, ensuring a more equitable distribution of revenues.

Pakistan Cricket Board (PCB) chief Shaharyar Khan had earlier made it clear that Pakistan had supported the Big Three governance system in 2014 because India had signed a MoU with them that they would play six bilateral series between 2015 and 2023.

The BCCI had profited most from the Big Three governance system as it received the major chunk of the revenues that ICC earned from its events and broadcasting rights between 2015 and 2023.

Opinion

Editorial

X post facto
Updated 19 Apr, 2024

X post facto

Our decision-makers should realise the harm they are causing.
Insufficient inquiry
19 Apr, 2024

Insufficient inquiry

UNLESS the state is honest about the mistakes its functionaries have made, we will be doomed to repeat our follies....
Melting glaciers
19 Apr, 2024

Melting glaciers

AFTER several rain-related deaths in KP in recent days, the Provincial Disaster Management Authority has sprung into...
IMF’s projections
Updated 18 Apr, 2024

IMF’s projections

The problems are well-known and the country is aware of what is needed to stabilise the economy; the challenge is follow-through and implementation.
Hepatitis crisis
18 Apr, 2024

Hepatitis crisis

THE sheer scale of the crisis is staggering. A new WHO report flags Pakistan as the country with the highest number...
Never-ending suffering
18 Apr, 2024

Never-ending suffering

OVER the weekend, the world witnessed an intense spectacle when Iran launched its drone-and-missile barrage against...