Board of Control for Cricket in India (BCCI) is all set to receive USD 405 million from the International Cricket Council (ICC) as per agreed revenue sharing model.
The ICC took the decision during the apex body's annual conference in London.
As per the new financial model approved by the ICC after its five-day meet in Dubai earlier this year, BCCI was to receive 293 million dollars from 2016 to 2023.
Previously, the BCCI was drawing an amount of 570 million dollars due to its 'Big Three' formula.
ICC independent chairman Shashank Manohar had initially offered a compromise formula of an additional 100 million dollars, which would have pushed the BCCI's share to almost 400 million dollars.
However, BCCI had rejected this with a counter-offer under which it would still get its 570 million dollars but no other full member's share would be reduced.
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The England Cricket Board received 143 million dollars while Zimbabwe Cricket was offered 94 million dollars.
The remaining seven Full Members were offered 132 million dollars each. The Associate Members will receive a funding of 280 million dollars. This model was passed by a vote of 13 to 1.