The International Cricket Council has released "almost the entire" World Cup money it withheld from India, Board of Control for Cricket in India president Jagmohan Dalmiya announced in Kolkata on Tuesday.
"We received the money last week," Dalmiya said.
He, however, did not specify the exact amount received, saying it is around six million US dollars.
Also Read
The ICC-Players' face-off
Expressing 'satisfaction' about ICC's decision to release the money, Dalmiya said the BCCI has been vindicated for its stand that the money was 'wrongly' withheld.
The ICC had announced on March 10 that it would release a portion of the 2003 World Cup money it withheld from its member countries.
The decision was reached after ICC's commercial arm, IDI, was briefed on the progress of negotiations with Global Cricket Corporation, the marketing rights holder of ICC events till 2007.
Based on the assessment, the ICC decided at last month's Executive Board meeting in Auckland, New Zealand, that it would release more of the withheld money while still ensuring that it retained adequate funds to cover any potential liability.
The ICC had withheld US $6.5 million of India's money following damage claims faced by the country after its players signed an altered contract.
New Zealand and England, besides hosts South Africa, were the other countries whose share of the World Cup profits were withheld following compensation claims from GCC, who cited instances of contract violation by the said countries.
New Zealand and England had their booty jeopardized when they refused to play in Kenya and Zimbabwe respectively last year.
"Unfortunately, a claim of US $47 million (around Rs 200 crore) was slapped on us. But now we have been able to substantiate our point. We have proved that the claims were unjustified," Dalmiya said.
