The Board of Control for Cricket in India (BCCI) yesterday rejected new entrants Kochi and Pune's request to reduce by 25 per cent their Indian Premier League (IPL) franchise fees
The Board of Control for Cricket in India (BCCI) yesterday rejected new entrants Kochi and Pune's request to reduce by 25 per cent their Indian Premier League (IPL) franchise fees.
BCCI secretary N Srinivasan told IANS that the two franchises' request was discussed at the Working Committee meeting but it was not possible for the board to reduce the fees by 25 percent. The two franchises had already paid 75 percent of the fees.
"We have told them clearly that it is not possible for the BCCI to cut down the franchise fees," said Srinivasan.
Kochi Tuskers' director Mukesh Patel said that he was yet to receive any official intimation from the board.
"I will comment on the issue once I get an official confirmation. It was our fundamental right because we were promised 18 games and the fees were charged accordingly," Patel told IANS.
Sahara bought the Pune franchise for Rs. 1,700 crore while Kochi invested Rs. 1,500 crore. According to the rules, the franchises have to pay the amount in 10 equal installments.
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