ICC Board Meet: India to get maximum share; only 4 overseas players allowed in new T20 leagues
New Delhi (PTI): The BCCI reaffirmed its status as the financial powerhouse of world cricket as the ICC unanimously passed the revenue distribution model at its all-powerful board meeting in Durban on Thursday.
In another important development, the ICC has put a cap on overseas cricketers plying their trade for teams in various leagues, keeping it to four players per playing XI in new events. This is primarily meant for T20 leagues starting in every nook and corner, which is posing a threat to the international version of the game.
While the ICC media release didn't state the quantum of revenue that the BCCI will generate from the new distribution model, it is expected that the Indian board will annually earn USD 230 million from the USD 600 million pot for the next four years.
It is around 38.4 percent approximately and at least six times more than England and Wales Cricket Board (ECB), who are set to receive approximately USD 41 million at 6.89 percent and Cricket Australia (CA) who will get 37.53 million (around 6.25 percent). They are distant second and third in the list.
"The ICC Board also confirmed the largest ever investment into the sport after the distribution model for the next four years was agreed," the ICC release stated.
"Every ICC Member will receive significantly enhanced funding with a strategic investment fund ring-fenced to drive global growth initiatives in line with the ICC Global Growth Strategy," it further stated.
While the numbers were not there in the release, an ICC board member confirmed that the BCCI got its rightful share for its contribution to the growth of the sport and in this cycle each member would earn significantly more.
"All members will receive a base distribution and then additional revenue will be in relation to contribution to the global game both on and off the field," ICC chairman Greg Barclay said.
"This is by far the largest level of investment ever to go into cricket and it's a once in a generation opportunity for our members to accelerate growth and engage more players and fans and drive competitiveness," he added.
Cap on players' participation in new events
The ICC has decided that all new events (read various T20 leagues) will have to at least include seven home grown players or players from associate member in their playing XIs, in order to prevent en masse retirement of T20 specialists from top countries.
With the Major League Cricket (MLC) starting in the USA and Saudi Arabia also planning an ambitious T20 project in future, the stakeholders want to protect international cricket.
The host T20 board will also have to pay a "solidarity fee", which, in simple words, is a commission to the home board of an overseas player.
"Moving forwards, new events requiring a sanction will need to ensure the playing XI of each team will include a minimum of seven local or associate member players to support the development of the game.
"Additionally, a solidarity fee will be payable from the organising member to the home board of a player to reflect the role the member played in developing and promoting the sport globally."
Over-rate sanctions
The Chief Executives' Committee approved changes to over-rate sanctions in Test cricket to balance the need for over-rates to be maintained and ensure players are appropriately remunerated.
Such players will be fined 5% of their match fee for each over short up to a maximum of 50%.
If a team is bowled out before the new ball is due at 80 overs, there will be no over-rate penalty applied even if there is a slow over-rate. This replaces the current 60 over threshold.
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Kannada actress Ranya Rao, jeweller linked to Rs 40 cr gold smuggling: DRI
Bengaluru, Apr 03 (PTI): The Directorate of Revenue Intelligence said jeweller Sahil Sakariya Jain played a key role in assisting Kannada actress Harshavardhini Ranya, also known as Ranya Rao, in disposing of 49.6 kg of smuggled gold worth ₹40.14 crore.
According to the DRI’s remand note, Jain not only helped facilitate the illegal transaction but also abetted Ranya in hawala money transfers linked to the smuggling operation.
Jain, a jeweller by profession, was arrested on March 26 for assisting Ranya in the gold smuggling case.
He has been remanded to judicial custody until April 7.
Jain not only helped Ranya in allegedly disposing of the gold but also appeared to have facilitated Hawala money transactions.
"It appears that he assisted and abetted Accused No. 1 in disposing of approximately 49.6 kg of gold worth ₹40,13,59,374. He has also admitted to aiding A1 in transferring Hawala money amounting to around ₹38,39,97,000 to Dubai and ₹1,73,61,787 to A1 in Bengaluru," the DRI stated.
The agency further noted that the unaccounted cash of ₹2.67 crore seized from Ranya’s residence on March 4, as per the ‘Mahazar’ , was likely Hawala money she received as profit from purchasing gold in Dubai and selling it in Bengaluru.
The DRI added that Jain admitted to receiving a commission of ₹55,000 for each transaction.
"The voluminous evidence extracted from two mobile phones and a laptop belonging to Sahil Sakariya Jain further establishes his role in the smuggling of large quantities of gold into India by A1 ," the DRI stated.
According to the agency, in January 2025, Jain helped Ranya dispose of 14.568 kg of gold worth ₹11.56 crore and facilitated the transfer of ₹11.01 crore in Hawala transactions to Dubai.
Additionally, he admitted to transferring ₹55 lakh in Bengaluru.
In February, Jain allegedly assisted Ranya in disposing of 13.433 kg of gold worth ₹11.81 crore.
During the same month, he helped transfer ₹11.25 crore in Hawala funds to Dubai and ₹55.81 lakh to Ranya in Bengaluru.
Ranya, the stepdaughter of a DGP-rank officer in Karnataka, was arrested on March 3, shortly after returning from Dubai at Kempegowda International Airport.
The DRI officials seized 14.7 kg of gold from her possession.
