The IPL Governing Council has asked Hyderabad-based IPL franchise- Deccan Chargers to sort out its financial issues by August 31. At a meeting convened in New Delhi on Tuesday, the T20 tournament’s apex body had asked the owners why they had mortgaged the team ownership rights to two Indian banks.
It has been revealed that the BCCI had made it clear that it has ownership rights over every IPL franchise, adding that no club could mortgage these rights by themselves.
The Governing Council also took up the issue of player payments with the franchise, for the 2009 IPL champions had defaulted on clearing dues owed to its cricketers, most of which should have reached them by this point of time.
In an interview to the Indian Express, an IPL Governing
Council official said, “From our side, the IPL doesn’t allow any team to raise
funds by leasing out to financial institutions. We have given them a fortnight
to sort out the issues. We may have to take measures to safeguard the interests
of the league and the players.”
IPL asks RCB asked to pay up
IPL franchises in a fix
The banks are keen to know if the franchise could be sold, for the owners had failed to pay up. Following the meeting, the BCCI gave the Deccan Chargers time upto August 31st, to sort out the mess. Team owner T Venkattram Reddy refused to comment when approached by the media.