Chennai Super Kings

Controversy over conflict of interests in IPL bids

By admin ⋅ January 25, 2008 ⋅ ⋅ ⋅ Post a comment

Controversy broke out over the bidding for sponsorship of teams for the upcoming Indian Premier League(IPL) with questions being raised over conflict of interests involving a Cricket Board official. After the successful bids were announced by the BCCI, its treasurer N Srinivasan was at the centre of the controversy after the India Cements Group of which he is one of the promoters entered the fray and won the sponsorship for the Chennai team with an offer of 91 million dollars.BCCI vice-president Lalit Modi however told reporters there was no conflict of interests in Srinivasan’s India Cements Group entering the bid despite his presence on the IPL Board.

Srinivasan on his part said “there is no conflict(of interests). India Cements is a public limited company and the highest bid won.” Modi said “India Cements in a publicly traded company. Srinivasan is there on the IPL Board as he’s the treasurer of the BCCI. Once his term ends in September, he will not be on the IPL Board. There are no issues here.”

Tags: controversy, india cements, IPL Chennai