18 April 2024 last updated at 15:13 GMT
BCCI decides to waive off CSK, RR franchise fees
Saturday 27 August 2016
BCCI decides to waive off CSK, RR franchise fees
After the 2013 IPL spot-fixing and betting scandal, the Supreme Court-appointed Justice RM Lodha panel had suspended IPL franchises Chennai Super Kings and Rajasthan Royals last year for a period of two years.
However, the Board asked the teams to pay the franchise fees for the two years, despite being suspended. All the franchises are required to pay one-tenth of their bid amount over a period of 10 years to continue in the cash-rich league. The former IPL champions paid the money under protest and moved court against the Board’s decision.
However, after the blow from the verdict on Lodha committee recommendations, the BCCI decided to avoid another embarrassment from a legal tangle, and settled the issues with the franchises by exempting them from paying the fees. The Board has also decided to return the first instalments that CSK and RR had paid under protest.
Tamil Nadu Cricket Association (TNCA) secretary Kasi Viswanathan confirmed the decision by the BCCI.
“Yes, the franchise fee issue is now settled. During the last (BCCI) working committee meeting, the president said that the BCCI has reached an agreement with both Chennai Super Kings and Rajasthan Royals and they don’t have to pay the franchise fee. There’s no longer any legal issues between the franchises and the board regarding that matter,” said Viswanathan, reported The Indian Express.
Chennai Super Kings were expected to pay Rs. 73 crore for two years, while Rajasthan Royals were expected to shell out Rs. 56 crore.
The BCCI has decided to settle the annual franchise fees issue with the suspended IPL sides Chennai Super Kings and Rajasthan Royals. Both the sides are now exempted from paying any fee during their suspension period of 2 years. Earlier, they were asked to pay fees for the 9th and the 10th edition.After the 2013 IPL spot-fixing and betting scandal, the Supreme Court-appointed Justice RM Lodha panel had suspended IPL franchises Chennai Super Kings and Rajasthan Royals last year for a period of two years.
However, the Board asked the teams to pay the franchise fees for the two years, despite being suspended. All the franchises are required to pay one-tenth of their bid amount over a period of 10 years to continue in the cash-rich league. The former IPL champions paid the money under protest and moved court against the Board’s decision.
However, after the blow from the verdict on Lodha committee recommendations, the BCCI decided to avoid another embarrassment from a legal tangle, and settled the issues with the franchises by exempting them from paying the fees. The Board has also decided to return the first instalments that CSK and RR had paid under protest.
Tamil Nadu Cricket Association (TNCA) secretary Kasi Viswanathan confirmed the decision by the BCCI.
“Yes, the franchise fee issue is now settled. During the last (BCCI) working committee meeting, the president said that the BCCI has reached an agreement with both Chennai Super Kings and Rajasthan Royals and they don’t have to pay the franchise fee. There’s no longer any legal issues between the franchises and the board regarding that matter,” said Viswanathan, reported The Indian Express.
Chennai Super Kings were expected to pay Rs. 73 crore for two years, while Rajasthan Royals were expected to shell out Rs. 56 crore.
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