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ICANN’s new gTLD fund at $352.3m

Kevin Murphy, November 2, 2012, 15:11:59 (UTC), Domain Policy

ICANN had $352.3 million in its new gTLD program bank account as of October 13, according to notes from a recent board meeting.

The numbers suggest that ICANN had only spent about $6 million on the program since the application window closed at the end of May.

With 1,930 applications at $186,000 a pop, excluding the seven refunds, ICANN should have grossed about $358 million.

The money is being held in a non-interest-bearing account, partly due to ICANN’s insistence that the program is not an exercise in self-enrichment.

Notes from the October 13 Board Finance Committee meeting also reveal that ICANN plans to revise its 2013 budget to account for the accelerated gTLD timetable.

The current budget was prepared before Digital Archery was scrapped and ICANN expected to process its applications in batches over two years. It now expects one batch lasting one year.

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Comments (2)

  1. RaTHeaD says:

    i liked racketeering better when it was all sicilian.

  2. PT Barnum says:

    I was correct! I was correct! A sucker IS born every minute!

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