#ICANN president : I have decided to execute the amendment of the .COM Registry Agreement

ICANN president and CEO, Göran Marby,

Göran Marby, ICANN President & CEO, announced that he gave Verisign the green light with regards to the .com Registry Agreement.

The agreement allows Verisign to increase prices by 7% during each of the last four years of each six year contract renewal. Additionally, the wholesale price of a .com domain would increase from $7.85 to $10.26 over the next four years. Domain registrars are expected to further add their own mark up.

The ICANN president stated:

“Representing ICANN org as President & CEO, I have decided to execute the amendment of the .COM Registry Agreement and the proposed binding Letter of Intent. I believe this decision is in the best interest of the continued security, stability, and resiliency of the Internet.

Overall, the decision to execute the .COM Registry Agreement amendment and the proposed binding Letter of Intent is of benefit to the Internet community.”

ICANN will receive an endowment of $20 million dollars from Verisign, split over 5 years, to improve DNS infrastructure. It is not clear how this large monetary reward is allowed to be received by the very party that makes a decision on the execution of the contractual agreement!

Currently, the ICANN president is receiving comments on Twitter, where he announced the acceptance of the agreement.

You can read Göran Marby’s blog about how ICANN bent over accepted the Verisign deal.

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