BCCI likely to lose 4800 crore to Deccan Chargers
Former IPL team Deccan Chargers, whose termination happened in 2012, is likely to cost the Board of Cricket Control BCCI) in India a sum of Rs 4800 crore. The Hyderabad-based franchise had alleged the Indian Board of ‘illegal termination’ and the matter was taken to Bombay high court.
DHCL owned Deccan Chargers stunned the world as they lifted the Indian Premier League in the second season of the tournament in 2009, after finishing bottom of the table in the inaugural edition. Later in 2012, the BCCI had officially announced the termination of the Deccan Chargers franchise that had led to DCHL challenging the Indian board for the same. The matter was taken to the Bombay High court and the court had appointed retired Supreme Court justice CK Thakkar as the sole arbitrator between BCCI and DHCL.
After eight long years since the case was opened, Deccan Chargers owner DCHL finally won the arbitration against BCCI. With Thakkar virtually announcing the award to DHCL, as confirmed by the law firm representing Deccan Chargers, the BCCI only has time till September to pay a huge sum of Rs 4800 crore to the former franchise owner.
“The detailed award copy is awaited. Once it is received, it will be studied and next course of action, decided by BCCI,’’ Viraj Maniar of Maniar Srivastava Associates, the law firm for BCCI, were quoted by TOI.
The BCCI is already under challenging circumstances given the COVID-19 outbreak forced a delay on the 2020 edition of the IPL.