Sunday, September 19, 2021
HomeSportsCSK in fresh controversy on franchise's undervaluation

CSK in fresh controversy on franchise’s undervaluation

Chennai Super Kings have a history of creating controversies and this year is no different. After finding itself in hot water due to conflict of interest in the Indian Premier League, the franchise found themselves in a spot of bother as the IPL governing council objected to the amount at which the team was valued by its owners Chennai Super Kings Ltd.

After the Supreme Court passed an order, citing conflict of interest, Chennai Super Kings Ltd, a subsidiary was formed by N Srinivasan’s India Cements.

The new IPL governing council in a meeting on Monday which also included Jyotiraditya Scindia as a special invitee raised his voice over the amount of money the team was valued at, making it look way too evident.

Scindia made it clear that it was not possible for CSK to be valued at Rs. 5 lakh when India Cements was paying Rs. 40 crore annual franchise fee to BCCI.

This comes after a report that was published last year where an US-based consultancy valued the team at Rs. 450 crore in 2014.

Most Popular

- Advertisment -[the_ad id="220709"]