Around 160 domestic and international cricketers who have retired before 2003-04 will be awarded cash bonanza as part of the BCCI's one-time benefit scheme from the IPL surplus money, a gesture which would cost the Board Rs 70 crores.
"From the surplus of IPL, BCCI will make a one-time benefit payment to cricketers who have retired before 2003-04 in recognition of their services to Indian Cricket, in both International and Domestic levels," the Board said in a release after the Working Committee meeting in Chennai.
"Around 160 cricketers are eligible for this payment. The total payment is approximately Rs 70 crores," it said.
Cricketers who have played more than 100 Test matches will get Rs 1.5 Crore while those who have played between 75 and 99 Tests will receive Rs one crore.
Those who have played between 50 and 74 Tests will get Rs 75 lakhs while those between 25 and 49 Tests will receive Rs 60 lakhs. Cricketers who have played between 10 and 24 Tests will be handed Rs 50 lakhs while those between one and nine Test matches and who have played their last international match before 1970 will get Rs 35 lakhs.
Cricketers who have played 100 and more first class matches will get Rs 30 lakhs while those who have played between 75 and 99 matches will receive Rs 25 lakhs.
The One-dayers played by the cricketers will be added with three ODIs being counted as one Test match. But for this, the cricketer will have to play at least one Test.
"Three ODIs would be calculated as one Test match," BCCI President N Srinivasan said after the Working Committee Meeting.
He said if a player has played 40 Tests and 60 ODIs, it will be counted as 60 Test matches.
The Working Committee also approved the nomination of Srinivasan as the next president of the Asian Cricket Council as per rotation. The Working Committee also ratified the grant of media rights to Star India Pvt. Ltd. for the next six years of 2012 to 2018.
In other decisions, the Working Committee approved the setting up of an Anti-Corruption Unit arm of the BCCI, the start of a Curator's Certification Course, with the first batch commencing in July 2012.
The Working Committee also approved a limited number of friendly matches -- upto three -- to be played by IPL teams with Associate and Affiliate countries of the ICC, between June and August, subject to guidelines to be framed by BCCI.
Former Test cricketers welcome one-time payment
Former Test cricketers Chandu Borde and Bapu Nadkarni today welcomed the Cricket Board's decision to make a one-time payment from the proceeds of the cash-rich Indian Premier League to the players who had retired prior to 2003-04.
"Good Lord, it's fantastic," was the reaction from former Test middle order mainstay Chandu Borde who led India in one Test when regular skipper Mansur Ali Khan Pataudi was injured and unavailable to play on the 1967-68 tour of Australia.
The Pune-based Borde, who had played in 55 Tests between 1958 and 1969, stands to gain Rs 75 lakh, as per the BCCI's decision.
Borde's former teammate and ex-all rounder Bapu Nadkarni said he had been expecting this sort of an announcement by the Board for some time now, having pursued the matter with other former cricketers and former BCCI chief Sharad Pawar.
"To be frank, we have been talking this up with Sharad Pawar (former BCCI president) over the last 2-3 years. He had promised us it will be done. I heard after the last meeting of the Board that something was coming," said Nadkarni who would get Rs 60 lakh, having played 41 Tests between 1955 and 1968.
The retired cricketers have also been benefiting from the monthly gratis scheme introduced by the Board a few years ago.