Rajasthan Royals, CSK refunded 30 percent of franchise fees by BCCI
BCCI has refunded 30 percent of franchise fees paid for IPL 2016 by suspended franchises, Chennai Super Kings and Rajasthan Royals, amounting to Rs 11.4 crore and 8.4 crore respectively.
BCCI has refunded 30 percent of franchise fees paid for IPL 2016 by suspended franchises, Chennai Super Kings and Rajasthan Royals, amounting to Rs 11.4 crore and 8.4 crore respectively.
Chennai Super Kings Cricket Ltd, that owns and operates the southern franchise, was last month refunded the first instalment of Rs 1,141,14,000 - that amounts to 30 per cent of the franchise fees paid to BCCI, according to information put up on the BCCI website.
Similarly, Jaipur IPL Cricket Pvt Ltd, that owns and operates Rajasthan Royals, had been paid Rs 8,40,18,000, constituting 30 per cent of the franchise fees paid by it to BCCI.
Both these franchises, which have been suspended for two years from playing in IPL by the Justice Lodha committee as punishment for their owners indulging in betting, had paid the franchise fees under protest.
CSK and RR had moved the Bombay High Court in April, against the levying of franchise fees by the BCCI.
The BCCI had decided for an out of court settlement by waiving the annual franchise fees to these two teams during their suspensions at its working committee meeting held in New Delhi last month.
The BCCI also rewarded the Hyderabad Cricket Association with a cash prize of Rs 28.75 lakh for providing good wickets and outfield for IPL 2016.