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PCB has every right to raise this issue, why should they stop playing international cricket during IPL? Props to PCB and Rambo as they are just trying to secure their cricket board's interest, that's their main job but at the same time BCCI is also entitled to secure their product.
I have been saying this for some time. PCB will stop complaining if the foreign player release fee goes to the ICC instead of national cricket boards. Right now Pakistan and most of the smaller boards are not benefitting from the IPL, because this fee is pocketed by a handful of boards such as CA, CSA, ECB and WICB. For boards such as PCB and BCB, there is only monetary loss from this league. So their argument is also true. If the BCCI wants the ICC to keep three months every year blocked for the IPL, then the ICC needs to be compensated for it.
2.5 months, not 3 months. Although in next cycle i do see possibility of IPL expanding but not in this cycle as it's fixed for 4-5 years due to contract, that means no more additional teams, matches and timeline.
I hardly find any merit on this notion that ICC should get any sort of compensation because IPL affecting only bilateral cricket not ICC tournaments, these are 2 different things.
ICC have nothing to do with the bilateral cricket as they don't earn single penny from it, all they care about ICC tournament every year, which they got already. Their intentions are clearly visible, just look at the upcoming ICC media rights auction. They saw what happened in recent IPL auction and they are also following more or less same path to get big bucks ; separate auction for tv, digital and region rights but here is a kicker there is zero transparency and last i heard virtually no broadcaster is happy about it.
Regarding about your other argument. They are free to schedule their bilateral cricket during this 2.5 month window, no one stopping them to.