Can’t reduce Kochi, Pune’s IPL franchise fees: Srinivasan
April 27th, 2011 - 6:13 pm ICT by IANSNew Delhi, April 27 (IANS) The Board of Control for Cricket in India (BCCI) Wednesday rejected new entrants Kochi and Pune’s request to reduce by 25 percent their Indian Premier League (IPL) franchise fees.
BCCI secretary N. Srinivasan told IANS that the two franchisees request was discussed at the working committee meeting but it was not possible for the board to reduce the fees by 25 percent. The two franchises had already paid 75 percent of the fees.
“We have told them clearly that it is not possible for the BCCI to cut down the franchise fees,” said Srinivasan.
Kochi Tuskers director Mukesh Patel said that he is yet to receive any official confirmation from the board.
“I will comment on the issue once I get an official confirmation from the board. It was our fundamental right because we were promised 18 games and the fees were charged accordingly,” Patel told IANS.
The two new entrants in this year’s IPL had stated that since the number of matches in the ongoing tournament was reduced from 94 to 74, it would be incorrect to pay for the pre-decided number of matches.
Sahara bought the Pune franchise for Rs. 1,700 crore while Kochi invested Rs.1,500 crore. According to the rules, the franchisees have to pay the amount in 10 equal instalments.
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Tags: according to the rules, committee meeting, confirmation, cricket, crore, franchise fees, franchisees, franchises, fundamental right, games, india bcci, instalments, ipl, New Delhi, premier league, rs 1, sahara, working committee