The new structure ensures that the BCCI, which generates 80% of the game's revenues, will get a larger share of the ICC pie and greater say in how the game is run. Reflecting the changed equation, BCCI president N Srinivasan is set to become the first ICC chairman from July, making him the most powerful man in world cricket.
England and Australia - the two other top teams apart from South Africa - are the two other main beneficiaries. In the new set-up, India, Australia and England will have permanent seats on a five-member executive committee, which will report to the ICC board. Explaining the changes, the ICC said, "The ICC board will continue to be the primary decision-making body. From July, the ICC chairman will be N Srinivasan from the BCCI."
The new proposals were passed at an ICC board meeting in Singapore after eight of the 10 Full Member countries approved the changes, with only Sri Lanka and Pakistan abstaining from voting saying they needed "more time to discuss the amended resolution".
The ICC has for long been heavily dependent on Indian cricket's financial might and in a keeping with this, the new structure will bring changes to cricket's skewed revenue-distribution model. Sharing of ICC revenue from now on will be determined by the contributions made by each Full Member.
"Full Members will gain greater financial recognition based on the contribution they have made to the game...in terms of finance, their ICC history and their on-field performances," an ICC statement said.
With an eye on the global rights which will be up for grabs in the next cycle from 2015-2023, the ICC has introduced a Test Cricket Fund, shelved the stillborn World Test Championship and revived the 50-over Champions Trophy to ensure it has "a really attractive package for 2015-2013 to take to the market".
The statement added: "This decision is the outcome of a negotiation between members that has been required to provide long-term certainty of participation of all members in both ICC events and bilateral series. Without that certainty, the rights for ICC events, which are to be taken to market this year, would have been significantly impacted and, by extension, so would the financial support that has driven the growth of cricket.
"The structure ensures that none of the Full Members will be worse off than they are at present and - if forecasts of revenue generation prove to be correct - all will be significantly better off."
"A new executive committee will be formed to report into the board. The initial chair of this executive committee (ExCo) will be Wally Edwards from Cricket Australia (CA) while the chair of the finance and commercial affairs committee (F&CA) will continue to be Giles Clarke (ECB). These roles will be for an initial two-year transitional period to 2016.
"Once this transitional period is completed, the chair of the ICC board will be elected from within the ICC board with all Full Member directors entitled to stand for election. BCCI, CA and ECB will be represented on both sub-committees, along with two representatives of the other Full Members (who will be elected by the board)."
Explaining the need to scrap the World Test Championship in favour of a revived Champions Trophy in 2017 and 2021, the ICC said, "It proved impossible to come up with a format for a four-team finals event in Tests that fits the culture of Test cricket and preserves the integrity of the format."
In a bid to protect Test cricket, a Test Cricket Fund will be introduced to "help ensure all of the Test-playing teams will be able to sustain a home programme of Test cricket through to 2023". The Future Tours Programme (FTP) too will cease to be in its current form, with the ICC saying, "There was also confirmation that all Full Members will enter into a series of contractually binding bilateral agreements as a matter of urgency so that they can confirm a comprehensive schedule of matches in a FTP that will now be extended to 2023."
The ICC also stressed there would be enhanced support for Associate members, a commitment to continue all Associate member tournaments and increased funds if revenue targets are achieved. Associate members will also have a chance to play Tests, with the winner of the ICC Intercontinental Cup being entitled to take part in a play-off against the bottom ranked Full Member to obtain Test status.
"Several of these decisions still now need to be considered and adopted by the ICC's full council. The relevant resolutions will now be drafted through the appropriate committees, including the governance committee and the board before being submitted for approval to full council," the statement said.
Key changes in ICC:
New exec committee: 5-man executive committee with permanent seats for India, England and Australia. It will make recommendations to the ICC board, which remains decision-making body
India to chair ICC board: N Srinivasan, president of the BCCI, to become ICC board chairman from July 2014.
New financial model: Full members gain greater financial recognition based on their contributions in terms of finance, ICC history and on-field performances.
Champions Trophy revived: The Champions Trophy One-day tournament will continue in 2017 and 2021, replacing plans for a World Test Championship
Test Cricket Fund: A Test Cricket Fund will be introduced to guarantee all 10 Test-playing nations will be in position to host home series through to 2023.
New FTP: FTP to end in its current form. Members to strike binding, bilateral agreements "as a matter of urgency" with the aim of extending the programme until 2023.
Chance for Associates to bid for Test status: The winner of the next ICC Intercontinental Cup will play off against the bottom-ranked full member with the prize of gaining Test status. The existing full member will retain Test status and there will be no relegation system.
Times View
The BCCI and its president, N Srinivasan, deserve to be congratulated for initiating radical reforms in the way world cricket is run and for persuading the rest of the cricketing world of the merits of these changes. As we have said earlier, the changes really amount to formalizing what was already a reality - as the prime provider of revenues and audiences for the global game, India's clout in international cricket has increased over time. As the first chairman of the ICC in its new avatar, Srinivasan has the opportunity to prove to skeptics through his work that the changes serve the interests of not just India but all stakeholders in the game. It is a task well within his capabilities and we are sure he will rise to it.
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