The Indian cricket team is set to get a huge pay hike as the BCCI is planning to double the salaries of top international players for the coming season.
The Indian cricket team is set to get a huge pay hike as the BCCI is planning to double the salaries of top international players for the coming season. According to a report by Times of India, the Supreme Court-appointed Committee of Administrators (CoA) is working on a formula to add Rs 200 crore to the existing corpus of Rs 180 crore in this season to provision for the hike next season. This development comes after the much-awaited meeting between Indian captain Virat Kohli, MS Dhoni and the Committee of Administrators (CoA) regarding a hike in the players’ contracts.
Currently, 26% of BCCI’s annual revenue is split three ways – 13% for international players, 10.6% for domestic cricketers and the rest for women and juniors. However, addressing the recent demands, the board can change the provision for top players like Virat Kohli who earned Rs 5.51 crore from 46 matches in 2017. If the board does apply 100% salary hike, the Indian skipper can go on to earn over Rs 10 crore in match fee next year.
Top players like Virat Kohli, Dhoni and Rohit Sharma earn a lot of money through the Indian Premier League and endorsements. But, this pay rise can be a major boost for the domestic players who are usually paid between Rs 10-15 lakh per year. They can now end up earning between Rs 20-30 lakh per year.
Earlier, Vinod Rai, the CoA chief had said that Kohli and Dhoni had expressed their right to know exactly how the BCCI spends the money the board gets from their series sponsors and the team’s logo sponsors, that is, in addition to what they pay the players as per their annual contracts. They wanted to know whether the players are supposed to get the entire share or does sponsorship money gets distributed among state associations as well.
The players are learnt to have been of the view that the BCCI doesn’t share sponsorship money with the state associations and all their earnings are distributed among the players.