The BCCI on Tuesday defended its move to demand a lion’s share of financial proceeds earned by the ICC by saying it was only “just and fair”.

“This legitimate right issue has been put up before the full members of ICC. It is nothing but a just and fair right that we are asking for. It is not any muscle flexing, but only our legitimate right,” BCCI Secretary Sanjay Patel said here.

“For the first time in the history of the BCCI, as a full member of ICC, this has been put up by President N. Srinivasan. He has worked out very good details and very good options,” he said.

Patel spoke to reporters on the sidelines of ICC’s announcement of its annual awards. “The BCCI President has beenlooking into the financial details of the ICC. He has made a private study about what could be BCCI's contribution into ICC's revenue stream. On the basis of that, some formulae have been discussed. His own acumen as a businessman has also helped us.”

“But we are quite hopeful that result will be absolutely in favour of BCCI,” Patel said.

“Let us keep the amount under wraps. We are discussing range to range and we are quite hopeful,” he said.

Other sources said that BCCI could earn as much as $500 million over a four-year period if its demands are met.

“It is a matter for discussion among the members, rather than the (ICC). It will go to the full members and then it will go to the complete committee, but we are quite sure (of a positive response),” Patel said.

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