The Board of Control for Cricket in India announced that it will share 26 per cent of its revenue with its cricketers to ensure that the "players do not feel any kind of financial insecurity".

The board's working committee, which met in Delhi on Wednesday, decided that out of the BCCI's turnover of Rs one billion, 26 per cent would be shared with the players.

"This amount works out to about Rs 26 crore [260 million] per year. Out of this, 13 per cent would be shared with the international players. Out of the remaining 13 per cent, eighty per cent would be shared with those who are playing first class cricket and the remaining 20 per cent would be shared with junior players," informed BCCI president Jagmohan Dalmiya.

He clarified that the money given to the international players would be inclusive of match fees for one-day internationals and Tests.

"No separate payment would be made to the players for playing. But the players would be allowed to keep their endorsement earnings. The board has nothing to do with them. We are working on the contracts and they should be ready in the next couple of months. This is the highest money offered by any cricket board in the world.

"Earlier, the Australian Cricket Board was offering 25 per cent of its revenue to the players," he said.

He explained that income sources from the game would include sponsorship rights, media rights, tour guarantees received from various boards when India tours other countries, guarantee money or share of profits from events organized by the ICC and the Asian Cricket Council, merchandising and licensing rights and guarantee money received from the affiliated units for allotment of international matches.

He said that income sources would exclude income on interest and investment, sponsorship of junior cricket, sponsorship of the National Cricket Academy and zonal cricket academies and umpires' sponsorship.

Dalmiya said the new arrangement may not mean much to the international cricketers but it would be a big relief to domestic and junior cricketers.

"We have tried to ensure that a cricketer who plays 8-10 years first class cricket walks away with a sizeable income even if he fails to make it to the national team," he said.

The working committee also decided to organise all junior cricket on the newly-laid pitches at ten venues, which have been prepared to promote pace and bounce.

Dalmiya also announced the introduction of a day-night tournament, called the Corporate Cup, where teams will be allowed to field a maximum of four overseas players.

The board also decided to institute its own ratings, which will be announced at its annual awards function, from this year.