BCCI to lose Rs.2000 Cr estimates Modi
Lalit Modi and IPL are always in the news, right from the day the competition commenced in the country. In a latest encounter the former IPL commissioner fired a salvo at Board of Cricket Control in India (BCCI) bigwigs Shashank Manohar and current president N Srinivasan for the "mess" created due to termination of IPL franchise Kochi Tuskers Kerala.
The BCCI on Monday took a stern view of the non-compliance and decided to go ahead with the suspension of Kochi Tuskers franchise for not paying the entire fees for ownership, despite a showcause notice served to its owners.
Kochi now being terminated - a further loss of 1500 Cr to BCCI. Compounded by reduction in Media Rights. My estimate 2000 Cr. Who is responsible for this mess now? Current President and outgoing President for sure. Who will they blame now for this. Where is the accountability and who will take responsibility," Modi wrote on his twitter page.
Terming himself as a self-proclaimed whistle blower about the shady dealing related to Kochi, Modi wrote in his blog: Now, 18 months later, the BCCI has terminated the Kochi contract on the basis of an unpaid bank guarantee which, according to new President, N. Srinivasan, "....is not capable of being remedied. As a consequence, the BCCI now stands to lose more than $300 million by virtue of reduced commercial revenue because Kochi's suspension means fewer teams and therefore games - not to mention a loss of credibility for the IPL itself.
Posted by Ak Reddy
on 06:54.
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