'ICC proposal commercially beneficial'
The ICC says all members need to be on board with the new agreement.
JOHANNESBURG - International Cricket Council (ICC) President Alan Isaac has highlighted the commercial importance of having all ICC members on board with the newly proposed agreement submitted by India, England and Australia.
Some of the proposed key principles of the agreement include far-reaching structural, governance and financial changes to the ICC.
Isaac says it is important that all members are on the same page for the commercial benefits to be fully realised.
"We've been working for some time on our strategy and process for selling our commercial rights post 2015. Part of that process required that we had a members' participation agreement. We can't go to the market unless we can demonstrate that all the members are going to participate."
It has also been announced that a Test Cricket Fund will be set up with all full members of the ICC, apart fromt Australia, India and England, set to receive an annual payment to improve Test cricket in their respective countries.
ICC CEO Dave Richardson says the fund will help to keep Test cricket alive.
"It will enable countries that are playing a Test series at a loss to play Test cricket. You can only get better if you play Test cricket, and the Test fund will go a long way to ensuring that Tests don't get jettisoned in favour of ODIs, as is happening at the moment."