It seems like there's more trouble brewing for the Indian Premier League (IPL). On Saturday, IPL terminated Sony as the official broadcaster. On Sunday, it signed a 10-year contract with WSJ Mauritius. Sony then had taken IPL to court asking for injunction.
Sony Counsel said the termination letter was sent during the weekend, and the company had no time to react. He also said that as late as March 11 Sony paid an advance of Rs 90 crore to IPL and furnished bank guarantee.
Meanwhile, the IPL lawyer said that they have served the termination letter to Sony and hence can go ahead with the contract with WSJ. The hearing will continue in the Bombay High Court today.
But what's the real reason behind IPL terminating its broadcasting deal with Sony?
CNBC-TV18's Sajeet Manghat learns it could be because the IPL got a better offer from another broadcaster. The new offer, which was made by WSG Mauritius, is likely to be 30 per cent more than WSG India's offer. The old deal for over 10 years was between IPL and WSG India for USD 1 billion. WSG India then entered a three-year deal with Sony India. When contacted, WSG Mauritius refused to comment.
Meanwhile, sources said IPL dates are likely to be sorted out within the next 48 hours. In fact, it could be as early as today too. The Board of Control for Cricket in India (BCCI) is expected to give the Home Ministry a fresh schedule. So far, Delhi is the only venue not cleared. All other venues are ready. BCCI officials met the Home Ministry officials on Monday but the deadlock could not be broken. IPL though is determined to go ahead and has indicated that it will accommodate all stakeholders.
Comments
0 comment