St John’s, ANTIGUA – The West Indies Cricket Board (WICB) has reported that it will soon pay an outstanding amount of US$617,750 for Indian Premier League (IPL) release fees.
These fees will be paid in relation to West Indies players who participated in the 2013-2014 and the 2014-2015 IPL seasons. Each player’s franchise and club will receive their agreed amounts equivalent to a one-third share. This was revealed recently following the announcement that the BCCI and the WICB have resumed bilateral ties.
This is part of an agreement by the WICB and the BCCI whereby the BCCI pays WICB an amount equal to 10 per cent of each player’s salary participating in the league. The agreement was authenticated when the WICB created a window for April to May, for its eligible players to participate in the IPL.
Based on the three-way split the value of what the WICB retains is approximately US$308,875 which it reinvests towards its comprehensive development programme. Additionally, the WICB has instituted a player production amount and since the WICB/WIPA Negotiations on new MOU/CBA, it was agreed that five per cent of player retainers is to be paid to the franchises and clubs. The split is 40 per cent franchises and 60 per cent clubs. That amounts to US$174,220 for the financial year which ended September 30, 2015.
WICB President Dave Cameron noted “the board is always developing new ways and means to incentivise its players. We are also hoping that the franchises and clubs utilise the allocation in keeping with the high-performance programme the board has been implementing and for the players to be ready for international competition”.
The International Cricket Council (ICC) continues to review all leagues around the world with a view to put in place regulations for participation in other authorised international leagues on the cricket calendar.
The disbursement is generally made shortly after the end of the stated financial year.