BCCI looking for out-of-court settlement with CSK and RR on franchise fee
After suffering a blow from the verdict on Lodha committee recommendations, the BCCI wants to avoid further embarrassment and is looking for an out-of-court settlement with CSK and RR. The former IPL champions had approached the court against the Board’s insistence on paying the franchise fees.
After the 2013 IPL spot-fixing and betting scandal, 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 is keen to avoid another embarrassment from a legal tangle and is considering an out-of-court settlement with the franchises, said a report in the Times of India.
"It's already been settled I'm told," an official in the know of things told TOI.
Chennai Super Kings were expected to pay Rs. 73 crore for two years, while Rajasthan Royals were expected to shell out Rs. 56 crore.