BCCI inks five-year deal with IMG for Indian Premier League
The amount between BCCI and IMG has been agreed upon for the next five years of the Indian Premier League (IPL)cricket Updated: Jul 15, 2017 19:15 IST
The Board of Control for Cricket in India (BCCI) has signed a Rs. 167.5 crore contract with event service providers IMG for the Indian Premier League.
The amount has been agreed upon for the next five years. It means that the BCCI will pay IMG Rs. 33.5 crore per year for the services like producing content and managing the League.
The Indian board has had a roller coaster relationship with IMG in the past, with the Board cancelling the contract way back in 2008 before agreeing to renew contract.
The initial contract - over Rs. 40 crore in 2008 - was reduced significantly in the new contract signed next year in 2009. Then it was further slashed for the remainder of the 10-year period coming to about Rs. 30 crore.
IMG were reportedly brought on board by former IPL commissioner Lalit Modi who had created the idea of IPL with IMG chief Andrew Wildblood. The contract soon ran into choppy waters after then secretary N Srinivasan reportedly objected to it. However, the contract was renewed but the amount of contract was reduced.