CSA welcomes ICC's new Constitution and Financial Model

Johannesburg [South Africa], June 27 (ANI): Cricket South Africa (CSA) has welcomed the widespread and significant changes made to the constitution of the International Cricket Council (ICC) as well as the revised financial model for all member countries.

"We are very pleased that the ICC have accepted a new model for doing business that is in line with accepted standards of Corporate Governance and this will benefit the growth of the game globally," commented CSA president Chris Nenzani.

"What was particularly important is the fact that all the changes were accepted unanimously by members and this show of unity is very pleasing.

"There is also a much better model in terms of the share of finances to ICC members.

"I also wish to take this opportunity to thank Shashank Manohar for the amazing work done over the past while and to congratulate Imran Khwaja on his election as the ICC Deputy Chairman."

Khawaja, a veteran administrator from Singapore, was unanimously elected for the post created following the constitutional change approved at the ICC Full Council on Thursday.

Khawaja will deputise in ICC meetings in case the chairman Shashank Manohar is absent.

"Compared to where we were a few years ago, the recent changes at ICC level have been very pleasing and it is now up to our chief executives to put in place a new international cricket structure that will ensure the sustainability of all three formats at international level," said the CSA chief.

"On behalf of all South African cricketer stakeholders and fans I would like to take this opportunity to welcome Afghanistan and Ireland as Full Members," he concluded.

The Board of Control for Cricket in India (BCCI) is all set to receive USD 405 million from the ICC as per agreed revenue sharing model.

Previously, the BCCI was drawing an amount of 570 million dollars due to its 'Big Three' formula.

The England and Wales Cricket Board (ECB) received 143 million dollars while Zimbabwe Cricket was offered 94 million dollars.

The remaining seven Full Members were offered 132 million dollars each. The Associate Members will receive a funding of 280 million dollars. This model was passed by a vote of 13 to 1. (ANI)

This story has not been edited. It has been published as provided by ANI