New Delhi: The BCCI has amicably, but quietly, settled with Rajasthan Royals a long standing ownership dispute and fined the IPL franchisee Rs 1 crore as part of the out-of-court understanding.
The 2008 IPL-winning franchise agreed to pay the fine and can now concentrate on the team’s preparations for IPL-7, likely to be held in April- May.
The BCCI had likewise settled a similar ownership shareholding dispute with the Kings XI Punjab in 2012 by slapping a fine of Rs 1 crore.
However, the Board is still locked in two arbitration cases, against terminated IPL franchises Kochi and Pune, besides a host of other cases, mainly related to taxes.
A top BCCI official said the settlement was arrived at a working committee meeting where officials of Jaipur IPL Cricket Pvt. Ltd., owners of Rajasthan Royals, were also present.
“Rajasthan Royals have been fined Rs 1 crore for violating the franchise agreement by changing their ownership shareholding pattern without informing the BCCI. The case has been in the court/arbitration before the settlement, and the franchisee has agreed to pay the fine,” a top BCCI official told MAIL TODAY. “This case has been settled in the same manner as the one with the Kings XI Punjab. They too were fined Rs 1 crore [in 2012],” said the official.
The IPL governing council had ‘terminated’ Rajasthan Royals and the Kings XI Punjab on charges of breach of franchise agreement by changing ownership norms and slapped a show cause notice on both the franchisees in late 2010 after an “extensive internal investigation”.
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