West Indies IPL Release Fees to be paid

The West Indies Cricket Board (WICB) is reporting that it will soon pay an outstanding amount of USD 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 each. This was revealed recently following the announcement that the BCCI and the WICB have resumed bilateral ties.

This is part of an agreement by the WICB and the BCCI whereby the BCCI pays WICB an amount equal to 10% of each player’s salary participating in the league. The agreement was authenticated when the WICB created a window for April to May, for its eligible players to participate in the IPL.

Based on the three-way split the value of what the WICB retains is approximately USD 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 5% of player retainers is to be paid to the Franchises and Clubs. The split is 60% Franchises and 40% Clubs. That amounts to US$174,220 for the financial year which ended September 30, 2015.

President, Dave Cameron noted “the Board is always developing new ways and means to incentivize its players. We are also hoping that the franchises and clubs utilizes the allocation in keeping with the high-performance programme the Board has been implementing and for the players to be ready for international competition.”

The International Cricket Council (ICC) continues to review all leagues around the world with a view to put in place regulations for participation in other authorised international leagues on the cricket calendar.

The disbursement is generally made shortly after the end of the stated financial year.

(Taken from windiescricket.com )