Furore after Lodha committee verdict
Advertisement
Advertisement
The "We were having some informal discussions once the verdict was announced. An emergent meeting is on the cards where the members will be apprised of the situation and the road ahead will be only chalked out after our legal team goes through entire contents of the copy of the verdict," a senior
However, the three primary points that have emerged from the discussions between the senior functionaries are that of whether new companies will be allowed to bid for two vacant slots, whether all players or only the
"Since during our last GC meeting, we have forwarded the matter of CSK's de-merger and share valuation issue to the Working Committee, who will be taking legal opinion, we have to wait for it. Now current owners of CSK and Royals may be in a mood to sell their franchises to new owners but there are a few problems," another GC member explained the current situation.
"The moment CSK or RR is sold off in its current state to a new owner, the existing legal liabilities will then be burden of the new owner. Plus both franchises have lost goodwill. In this existing scenario can they be sold off or new buyers will be interested?" he questioned.
Advertisement
"Since Lodha committee has stated that the BCCI needs to look at it, we must be very careful about it and also keep the legal implications in mind," he said.
The last crucial point is the case of new bids being invited by the BCCI to again make it an eight-team league but the case of Players' Auction is then closely related to the issue.
"There are two options related to this matter. The BCCI invites tender for fresh bidding of two new IPL franchises. Since around 45-odd players from these two franchises will become free due to the verdict, a mini-auction is held and the two new franchises are allowed to pick from the existing pool of players.
"But then the new owners might oppose the idea of getting to select players from a restricted pool. In that case, it needs to be decided whether a fresh auction may be called having all the players from all the teams back in the auction pool," said the source.
A fresh auction was supposed to be held before the 2017 IPL but current situation may drive BCCI to have one before the scheduled time.
Advertisement
The other aspect will be Srinivasan's fate as
(Image credits: Indiatimes)
Advertisement
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Having an regional accent can be bad for your interviews, especially an Indian one: study
- Dirty laundry? Major clothing companies like Zara and H&M under scrutiny for allegedly fuelling deforestation in Brazil
- 5 Best places to visit near Darjeeling
- Climate change could become main driver of biodiversity decline by mid-century: Study
- RBI initiates transition plan: Small finance banks to ascend to universal banking status
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market