BCCI renews contract for IMG reduced rates

Just before the second season of IPL cricket league, BCCI played a drama with WSG of their deal and declared to terminate their ten years contact if it does not increase their fees. Late the broadcaster had to agree with the IPL managing committee. Earlier this month, the sports management company IMG bought pricing Rs. 33 crore of bills for arranging IPL season 2 that was held in South Africa. Due to overcharge reason in the last two years, commission had to terminate contact deal with the management authority. Later IMG’s reduced rate accepted by BCCI and rehires for the next eight years.

Indiatimes

BCCI wanted the sports management firm to reduce its fees and submit a revised proposal indicating the same. Seven of the eight Indian Premier League’s franchises contested BCCI’s decision to terminate IMG’s contract. Political heavyweight and former BCCI president Sharad Pawar joining the protest against the move.

In the recently BCCI’s 80th Annual General Meeting, there raised several points for tough financial question was the main point. For this situation they pointed out the shifting of IPL second season in South Africa due to National Election and not international tournaments held in running fiscal year.