International BusinessIPL chief Modi denies rift with franchise owners
Indian Premier League (IPL) Chairman Lalit Modi today brushed aside concerns that the Twenty20 League"s franchise team owners are miffed at not being compensated for extra expenditure incurred during the 2009 event held in South Africa.
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"It"s absolute hogwash and there"s no truth or merit in the (news) reports that have appeared. Our franchise owners are not like that," Modi told PTI.
Asked about the compensation for the owners, Modi said it was an ongoing process and part-payment has been done.
"It"s an ongoing process. Part-payments were done. It has to go to the IPL Governing Council for approval," he explained.
However, other sources indicated that the franchise owners did have an issue with the IPL over non-payment of the compensation that was promised to them when the event was shifted out of the country.
"All the franchisees have incurred extra expenditure. They have so far not been compensated for it. They have decided not to pay the annual fees (to IPL)," they said.
All the franchises were represented at the IPL"s Governing Council meeting held recently in Bangkok, they added.