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ACB turn to ICC for financial aid

30 Jul 2020 CricBuzz

The Afghanistan Cricket Board has requested the International Cricket Council to grant them USD One million in order to ensure the smooth functioning of the board, ACB's interim chief executive Nazim Zar Abdulrahimzai confirmed to Cricbuzz on Thursday (July 30).

ACB is severely hurt financially after the postponement of the two global events - Asia Cup followed by the T20 World Cup - losing the participant fee for the time being. As far as ACC and ICC member distribution is concerned, it is not based on the tournament as the member distribution is done on an annual basis and in that way, the participating nations will get the right fee at some point in time.

However, ACB cannot afford to wait that long considering they are not financially solvent as they were hurt further after losing their major sponsors Alokozay Group of Companies (AGC) - who cancelled their contract last year. To make things worse, Tyka, an India-based firm that had signed up as the apparel sponsor with the ACB, terminated its two-year contract that was expected to run till the end of 2020 due to the shutdown caused by the pandemic.

As per the new finance model, ACB would get around US$ 40 million for the 2016-23 commercial rights cycle for projected ICC revenues of $2.7 billion. However, with the ICC's projected revenues coming down, those costs have been adjusted to close to $4.8 million per year. In January this year, the ACB received about $2.4 million as part of the ICC's distribution money.

ACB's interim chief executive Nazim, who replaced Lutfullah Stanikzai, told Cricbuzz that they are hopeful to get the grant from the highest governing body of the sport. "We have requested ICC and they will give us USD One million grant and this is to run the ACB smoothly," said Nazim.

ACB president Farhan Yusefzai during a press conference on Wednesday (July 29) admitted asking the ICC for a grant.

"We have requested financial assistance from ICC as we believe that if we get the additional funding from ICC, it will help us expatiate the work will effectively and efficiently," Yusefzai told reporters.

Nazim added that they have applied to the government for a land to build the Kabul cricket stadium and hoped that they will be able to host international matches there. "The work is in process. We are looking for a land [for the Kabul International Stadium] and the government promises to give us a land which we can make a world standard stadium and we will be able to host [international matches]," he said.

Original Link: https://www.cricbuzz.com/cricket-news/113638/acb-turn-to-icc-for-financial-aid

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