The BCCI has decided to retain the services of International Management Group (IMG) for the next five editions of Indian Premier League beginning 2018. IMG left behind three other bidders who participated in the race to hold on to the contract which they had first claimed 10 years ago.
IMG has been the service provider for IPL for over the last 10 years. In 2008, when the IPL started, they claimed the contract at a value of Rs 27 crore per year, for a period of ten years.
In 2009, when the IPL shifted to South Africa, the annual contract between BCCI and the IMG got hiked to Rs 33 crore and was settled at Rs 28 crore per year between 2012 and 2013 when the league remained a 10-team tournament.
According to the PTI, it has been learnt that the BCCI will be paying to the tune of Rs 167.5 crore to the company.
An official announcement on the IMG-IPL deal is expected to be made by the cricket board on Saturday. Apart from the IMG, the other three bidders in race for the contract were Rhiti Sports, run by MS Dhoni's managerial team; Wizcraft, an event management company that specialises in Bollywood, and Group of 4, a company with logistical expertise.
The decision has also got the green light from the Committee of Administrators (COA), which is meeting in the capital today to discuss the contracts of the support staff of BCCI.