ICC announce groundbreaking funding package
Tuesday, 08 Jul 2008 10:38
The ICC is holding its annual general meeting in Dubai
The International Cricket Council (ICC) has announced a $300 million (£150 million) investment package to develop the game outside the traditional nations.
ICC chief executive Haroon Lorgat announced the measure in a bid to strengthen cricket's influence around the world in what is being referred to as "the biggest investment in global development by any sport outside football".
Mr Lorgat explained that due to the game's financial security, which has been achieved as a result of several new worldwide broadcasting contracts, the ICC believes it is time to expand the game beyond the current ten full member countries.
Currently the ICC has 104 total members, although only Australia, South Africa, England, India, Pakistan, Sri Lanka, New Zealand, West Indies, Zimbabwe and Bangladesh are classed as full members with Test status.
The 94 associate and affiliate members are the nations set to benefit from the new funding package, which Mr Lorgat said is more than double the current bursary available on an annual basis.
"We are making the biggest-ever investment in the game from top to bottom over the next seven years," Mr Lorgat explained.
"From 2009, the ICC will pump almost US$300 million into our 94 Associate and Affiliate Members that make up the developing cricket world.
"That's at least $40 million per annum, compared to $18 million in 2008 - a 120 per cent increase."
Mr Lorgat said the funding would be "a key part of our current strategic plan… to consolidate and to strengthen the game where it is currently played" and "see results that challenge world cricket's existing order".
The ICC's figures suggest cricket participation is at an all-time high throughout the world, Mr Lorgat continued, and he said he is "thrilled" at the chance to lead the sport's governing body "at this very exciting time for the world game".
Mr Lorgat took over as ICC chief executive last Friday, succeeding Malcolm Speed in the top job.