BCCI not given fee for IPL share transfers | cricket | Hindustan Times
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BCCI not given fee for IPL share transfers

The Cricket Board was yet to receive its due share of five per cent as transaction fee for transfer of shares by IPL franchisees Rajasthan Royals and Kings XI Punjab, BCCI chief Shashank Manohar said today.

cricket Updated: Apr 26, 2010 18:10 IST

The Cricket Board was yet to receive its due share of five per cent as transaction fee for transfer of shares by IPL franchisees Rajasthan Royals and Kings XI Punjab, BCCI chief Shashank Manohar said on Monday.

Manohar said that Bollywood star Shilpa Shetty and her husband Raj Kundra, who were sold 12.5 per cent of Rajasthan Royals franchise stakes by the original owners -- Emerging Media of United Kingdom, are not named as share holders in the documents available with the Board.

The Board was also awaiting a similar fee from the Kings XI Punjab franchisees as Bollywood star Preity Zinta, a
current stakeholder, was not holding a single share when the bid for the Mohali franchise was successfully made by her and subsequently got some shares in the team, Manohar said at a press conference here.

In both these cases neither the permission of the IPL Governing Council was taken as required nor was the BCCI paid
its due share of five per cent transaction fee, Manohar said.

"There was a company based in UK by the name of Emerging Media IPL. The company was owned by a single individual Manoj Badale. The company started four months earlier to the bid.

His bid was accepted. However the agreement is signed with Jaipur IPL," the Board chief explained.