ISLAMABAD: The Pakistan Cricket Board (PCB) announced on Monday that it has been ranked among the top four nations in the International Cricket Council’s (ICC) new financial model, adding that it would receive over twice the revenue it was allotted during the last cycle.

The ICC proposed a new revenue sharing model for the 2024-27 cycle which was voted on at the global cricket governing body’s Annual Conference from July 10-13. In determining the distribution share to members, the model considers on and off field performances including cricket rankings, performance at ICC events, and commercial contribution to ICC Events. The ICC distributes revenue among members based on their performance in the above categories.

According to cricket website ESPNcricinfo, the Board of Control for Cricket in India (BCCI) would receive the lion’s share of the annual projected ICC earnings of $600 million. The PCB has publicly opposed the new financial model in the past, demanding to know how the ICC decides distribution numbers. In the recent annual conference, the PCB said it proposed deferring the decision on the new financial model till the next ICC meeting. However, the majority of the members did not agree and voted in favor of passing the model, while the PCB recorded its dissent.

“Consequently, due to the Pakistan cricket team’s performance in men’s ICC events and in bilateral cricket, the PCB’s own huge fan-base, which leads to significant commercial value, the PCB was ranked among the top-four nations in this Model,” the board said in a statement.

“As such, the PCB will receive more than two times the revenue when compared to the last cycle.”

PCB chief Zaka Ashraf met members of the Asian Cricket Council (ACC) on July 15, the Pakistani board said, adding that logistical and organizational matters for the upcoming Asia Cup 2023 came under discussion. Pakistan will host four of the 13 matches of the tournament while the other nine would be played in Sri Lanka. Pakistan, who were to host the tournament in its entirety originally, had to settle for a “hybrid” formula with Sri Lanka after India opposed traveling to the South Asian country due to political tensions.

“The finalized schedule is likely to be announced during this week,” the PCB said. “With the opening match scheduled to kick off in Pakistan, the PCB, as the event host, looks forward to welcoming cricket fans from across the world to experience Pakistan’s renowned hospitality.”

The ICC’s new financial model also came under fire from its associate members, who feared it is heavily tilted in favor of cricket’s superpowers. Vanuatu Cricket Association Chief Executive Tim Cutler told Reuters in May that the model would only accentuate the inequality between cricket’s haves and have-nots.

“The sad reality is, cricket will not grow beyond its current corners of the world ... if the allocation of the game’s global funds aren’t more equally allocated with a view to actually growing the game,” Cutler said.