Reports | VFI unsatisfied with accounts showing loss in Pro Volleyball season 1
According to Scroll.in, the Volleyball Federation of India (VFI) is not happy with the accounts which show loss in the first edition of the Pro Volleyball League. As a result of that, there are doubts over the second season but Baseline has said that there are no questions for the Federation.
The Volleyball Federation of India (VFI) is keen on having more financial control over the league which was started in 2019. After a successful first season, the league is in some doubt for the 2020 season as the federation and Baseline Ventures, with whom the VFI has a 10-year contract for the league, are at loggerheads.
Baseline wanted to hold the second edition in November, however, they announced the dates for February-March 2020 earlier this month. After the dates were announced, VFI mentioned that the Federation had no clarity about the dates and informed that the calendar for that period was packed with many domestic tournaments.
It is learned by the media house that the VFI made allegations about the accounts being manipulated by the Baseline to show that there was loss in the inaugural season. However, Baseline has also responded to the allegations made by the VFI.
“It is also laughable that Mr [Ramavtar Singh] Jhakar being the secretary-general does not appreciate that the loss in Season 1 to PVL is solely due to the fees amounting Rs 3.5 crores, paid by the Company to VFI in Season 1. VFI has already earned Rs 3.5 crores in Season 1 whereas the company has incurred a loss of Rs 2.66 crores in the same season,” said Baseline as per the report by Scroll.
“We submitted the accounts on July 18. But VFI hasn’t come back to us with any specific query. We will be happy to answer any specific points they raise about the account statement,” League CEO Joy Bhattacharjya said.
Bhattacharjya had also written a letter to the secretary-general of the VFI Ramavtar Singh Jhakar earlier this month, which read, “The only people to have made money is the VFI which made Rs 3.5 crores, already deposited in their account and the volleyball players who for the first time were paid very decent sums of money.”