West Indies Board to pay IPL release fees

by

May 05, 2016
@Normal:Cameron

St John's:

The West Indies Cricket Board (WICB) is reporting 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 is part of an agreement by the WICB and the Board of Control of Cricket in India (BCCI) whereby the BCCI pays WICB an amount equal to 10 per cent of each player's salary participating in the league.

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 for franchises and 60 per cent for clubs.

WICB President Dave Cameron noted that the board was 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," he said.

Other Sports Stories