4800 Crore Hit For BCCI After Losing Legal Battle Against IPL Team Deccan Chargers

BCCI officials refused to comment on the issue but said they will study the order before taking their next legal recourse.

Photo: AFP

The world's richest body, the BCCI may have been immune to the economic depression, but only so far. Even as the BCCI Apex council was meeting on deciding IPL window, it was knocked out of whopping Rs 4800 crores from its kitty in one go by a former IPL franchise. Deccan Chargers, one of the earlier 8 franchises of the IPL and winner of the second edition held in South Africa have won an arbitration award against the BCCI for unlawful termination after a long battle of 8 years. Deccan Chargers was terminated and later Sunrisers Hyderabad was given the same franchise and city. BCCI officials refused to comment on the issue but said they will study the order before taking their next legal recourse. The Bombay High Court had appointed an arbitrator, Retd Justice CK Thakker to decide on it and he came.to a conclusion that the BCCI was wrong in terminating the franchise and awarded the refund of money along with interest which has to be paid by September. It is still unclear if the order has the option of reinstating the franchise. This blow to the BCCI comes just a week after the BCCI got a windfall of Rs 850 crore by winning an arbitration award against World Sports Group. ALSO WATCH | Here's how cricket academy is operating in times of Covid-19