New Delhi: Cricket over the years has not only grown as the leading sport in India but has also transformed into a multi-million business industry today. The current salary cap for the Indian cricket team proves that, and shockingly, it could well be doubled in the upcoming season.
Not only salaries of players playing for the country, but also domestic players could be given a bonus. The Supreme Court-appointed Committee of Administrators (CoA) is currently devising a plan to add Rs 200 crore to the existing budget of 180 crores this season in order to supply funds for the hike, according to a report by the Times of India.
The Vinod Rai-led CoA is close to chalking out the formula that is set to double the salaries of the senior and the junior sides, which will later be presented to the Board of Control for Cricket in India (BCCI) for authorization. India skipper Virat Kohli and head coach Ravi Shastri also presented their case at the meeting with the CoA last month, stating that the management fully deserved a satisfactory hike.
According to the current distribution, 26% of BCCI's annual revenue is allocated in three ways - 13% for international cricketers, 10.6% for domestic cricketers and the remainder for women and juniors. However, a major revamp is set to take place for all the three categories.
Kohli, who previously pocketed Rs 5.51 crore from 46 matches in 2017, could now see his salary increase to Rs 10 crore per year by the BCCI. Whereas, Ranji Trophy cricketer who earned between Rs 12 to Rs 15 lakh annually, could be taking home up to Rs 30 lakhs, after the salary hike proposal.
"Senior cricketers are certainly going to get a 100% raise and even domestic players would get the same percentage increase," a source close to CoA said. "Since, these cricketers are the reason for BCCI's revenues, can't the board afford another Rs 200 crore for their salaries?" a top board said.
The report states that former India captain Sourav Ganguly also the raised the issue of low salary for domestic players at the BCCI SGM on Monday, explaining how the players need to be compensated like international players.
"Because of the sheer bulk of the money, the senior Indian cricketers can't be given half of the projected 26% revenue of BCCI. It would be distributed in such a way that domestic cricketers also get big hikes," the official added.
The new salary plan is also unlikely to interfere with the 70% share of BCCI's state units....