Indian Premier League franchise Rajasthan Royals on Monday rubbished media reports that the Cricket Board was preparing to cancel its IPL deal with the Jaipur outift as "baseless and highly speculative".
"The recent media reports about BCCI proposing to cancel Rajasthan Royals franchise agreement are entirely baseless and highly speculative. There is no such move or information from the BCCI which would suggest anything to this effect," a statement from Rajasthan Royals said.
"These rumors have been clearly perpetrated by people with vested interests and are deliberately aimed at maligning the reputation of the Royals and causing them harm. We are shocked at such reporting, which unnecessarily undermines the Royals and is extremely damaging," the statement said.
"We register our strong objection against such speculative and defamatory reporting," it added.
The franchise, winners of the inaugural IPL season in 2008, is under the scanner of the government authorities for having committed alleged financial irregularities.