The International Cricket Council’s (ICC) board has voted to pass a new financial model to reverse a 2014 decision which effectively put India, England and Australia in control of the game’s finances and administration.
Under the new financial model and governance structure, the split of revenues from the ICC for the years 2016 to 2023 will be altered to address the imbalance currently favouring the three boards.
The measure was passed by 13 votes to one, the governing body said in a statement on Thursday after its meetings in Dubai. The Indian cricket board, according to local media, was the only one to oppose the new financial model, which would see their revenue share cut by almost half from the 2014 model.
A revised constitution, which will allow the ICC to include additional full members in the future, was also approved by 12 votes to two. The decisions would have to be ratified at the ICC’s annual conference in June.