Board of Control for Cricket in India working committee is expected to discuss the issue of lowering the value of Chennai super kings. A fresh controversy was raised by S Srinivas, who was directed by the apex court to quit one of the posts. IPL new managing committee exposed this in their first meeting. Members objected to the sale for Rs 5 lakhs only when the high profile organisation which was paying Rs 40 crore annual fees. An American company estimated that the Chennai brand value would be around Rs 450 crore.
The committee also refused to recognise the said sale. The apex court made clear that while continuing in the BCCI it was not possible for Srinivas to remain as franchisee manager of IPL. The court also told Srinivas to give up one of the posts. Later, prior to the BCCI elections, the India cements transferred the franchisee rights of super kings under its control to its related companies. What is the rationale behind such a fall in sale ? Board gets 5 percent in the franchisee sale value. The franchisee rights were transferred to India cements’ related companies for Rs 5 lakhs only when Srinivas was cement company managing director. That too when super starts like Dhoni, Mec Kalam and Raina were twice champions.