Mumbai, Sep 24 (IANS) IMG retained the rights to conduct the India Premier League (IPL) after it reduced the annual charges by Rs.60 million, the Indian cricket board said here Wednesday.
The Board of Control for Cricket in India (BCCI) accepted th fresh proposal of the IMG during its Annual General Meeting (AGM) at the Cricket Centre.

The Indian cricket board’s working committee termintated the IMG’s contract in August after it had failed to submit a revised proposal.

But the IPL governing council authorised BCCI president Shashank Manohar to resolve the issue. After meetings between them, IMG agreed to submit a fresh proposal and reduced its annual fee substantially from Rs.330 million to Rs.270 million.

The proposal was accepted by the members at the AGM and board secretary N. Srinivasan has been authorised to execute the agreement.

It was also decided that the Corporate Trophy would be named after former BCCI president Raj Singh Dungarpur, who passed away this month.

The BCCI also approved the setting up of an Umpires’ Academy at Nagpur. Scorers and Statisticians will also be trained at the academy.

The BCCI also decided to shift the first ODI slated for Oct 25, of the seven-match series between India and Australia, to Baroda from Jaipur.