In its Annual General Meeting (AGM), the Board of Control for Cricket in India (BCCI) has approved the addition of two more franchises to the lucrative Indian Premier League (IPL) roster. Given IPL’s popularity, several corporate houses were keen on bidding for new IPL teams.
It also means that there will be no mega auction for ahead of IPL 2021 – which should come as a huge relief for the existing franchises. On speculations around a mega auction ahead of 2021 season, many franchises had raised objections saying they had already suffered losses due to the pandemic in 2020 and with not much time left for season 15, a mega auction would not have been feasible.
In another major development, the Board, in principle, decided to back the ICC’s bid for inclusion of cricket, in the T20 format, in the 2028 Los Angeles Olympics “after getting some clarifications from the International Olympic Committee”.
“Look, the BCCI is an autonomous body and it would like to maintain its autonomy. Our legal team is looking to get a few clarifications. Obviously, cricket in Olympics is great for the game. Let’s hope we can move in the right direction,” the member, who attended the AGM, said.
The Board, however, did not reveal the nature of its queries with regards to the matter.
The BCCI has decided that if it does not get full tax exemption from the government of India to host the World T20 next year, as sought by the ICC, then it would agree to deduction from its annual revenue of USD 390 million from the global body.
“We have told the ICC that we will approach our government for tax rebate but if we don’t get that exemption, the amount, which is around USD 123 million, will be deducted from our annual revenue, so we will get around USD 267 million. But India is hosting the 2021 T20 World Cup,” he added.