Indian cricketers are set to get a huge hike, with the salaries of top players as well as domestic ones likely to double in the coming season, reports The 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.
Sources told TOI on Thursday that CoA is close to working out the proportion to be given to the senior and junior teams. This formula will be presented to BCCI's general body for ratification.
Indian captain Virat Kohli and coach Ravi Shastri had made a strong presentation demanding hikes for the players, which they feel is long overdue.
As per the present arrangement, 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, the allocation for different categories of cricketers is likely to change and a top player like Kohli, who made Rs 5.51 crore from 46 matches in 2017, could now earn more than Rs 10 crore per year in emoluments from BCCI.
Of course, Kohli would make much more from IPL and personal endorsements. Similarly, a Ranji Trophy cricketer, who made between Rs 12 to Rs 15 lakh yearly, could be up to Rs 30 lakh after the ratification of the new formula.
"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 official asked.
Sources said former Indian captain Sourav Ganguly had raised the issue of domestic cricketers' salary at the BCCI SGM on Monday and said how a substantial increase in the salaries of domestic cricketers is a must.
It was revealed that the new formulae won't eat up into the 70% share of BCCI's state units. "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 explained. It is also given to understand that a Test cricketer like Cheteshwar Pujara, who doesn't get to play the shorter formats of the game, will be duly compensated. This has been a concern of the Indian team management.