BCCI refunds about 20 crores to CSK, RR
The BCCI has refunded an amount of 11.4 corers and 8.4 cores to Chennai Super Kings and Rajasthan Royals respectively for their franchise fees paid to the board for IPL 2016. However, this is only the 30% of the total money the suspended franchises had paid the Board.
The Lodha committee had suspended IPL clubs Chennai Super Kings and Rajasthan Royals for their involvement in alleged betting and fixing for a period of two years. The clubs could not participate in the last edition of the Indian Premier League and will wait out the coming season as well.
The BCCI had not refunded the franchise money for IPL 2016 to both the teams despite their non-participation. The two finalists of the opening edition of the IPL had then gone to the Bombay High court demanding a return of the fees from the Board. But after the BCCI agreed to settle the matter outside the court, the two had withdrawn the case.
After the working committee meeting at New Delhi, the Board agreed to return the franchises their money due. As a first instalment, the BCCI has paid 11.4 corers and 8.4 corers respectively to CSK and RR - 30% of their franchise fees.
The BCCI has also rewarded the Hyderabad Cricket Association with a cash prize of 28.75 lakhs for providing good wickets for the IPL 2016.