In a series of tweets, exiled cricket administrator Lalit Modi has said the taint of spot-fixing and betting on the sport will lead to a large-scale cancelling of contracts to the tune of Rs 12,000 crore.
Modi said this is "confirmed news" and the development is waiting to happen.
He said that the game's stakeholders are "uneasy" with continuing with the sport. In May, some IPL administrators and many players had come under the police scanner for their alleged involvement in betting and spot-fixing.
Modi blamed BCCI president N. Srinivasan, who has currently stepped aside from his post, for the troubles Indian cricket finds itself in.
According to Modi, Srinivasan is directly responsible for cancellations of contracts worth Rs 12,000 crore.
As the IPL was consumed by its second spot-fixing scandal in two years, there were media reports that the title sponsor Pepsi may end its association with the T20 league. Pepsi had inked a Rs 396 crore (approximately USD 78 million at the time) in 2012.
Pepsi denied contacting the BCCI about such a move. Modi tweeted he "won't be surprised" if Pepsi pull out of the tainted league.