Lodha panel verdict on CSK and RR forces BCCI to discuss IPL future

Justice RM Lodha explaining the verdict on IPL earlier today

The IPL Governing Council will be holding an emergency meeting in the coming days to discuss the future of the Indian Premier League, the Press Trust of India reported. The move comes after the Supreme Court-appointed Justice RM Lodha committee recommended banning Chennai Super Kings and Rajasthan Royals from the T20 tournament for the next two seasons.

Informal discussions have already taken place in the aftermath of the shocking verdict which also imposed life bans of the respective team officials Gurunath Meiyappan and Raj Kundra.

“We were having some informal discussions once the verdict was announced. An emergent meeting is on the cards where the members will be apprised of the situation and the road ahead will be only chalked out after our legal team goes through the entire content of the copy of the verdict, “ PTI quotes a senior BCCI official and IPL Governing Council member as saying.

The major talking points

The issue which will attain prime importance in that meeting is expected to be about whether new companies will be allowed to bid for the two vacant slots.

“The current owners of CSK and RR may be in a mood to sell their franchises to new owners, but there are a few problems. The moment CSK or RR is sold off in its current state to a new owner, the existing legal liabilities will then be the burden for the new owner. Plus both franchises have lost goodwill. In the existing scenario, can they be sold off or will new buyers be interested?”, another Governing Council member said.

Question marks also remain about the future of the CSK and RR players. A fresh auction was scheduled to be conducted before the 2017 IPL, but the current situation will force it to be done earlier. Yet the question remains – Will it be just the players from these two teams or will the entire roster go up for auction?

“There are two options related to this matter,” the GC member continued. “The BCCI invites tender for fresh bidding of two new IPL franchises. Since around 45-odd players from these two franchises will become free, a mini-auction is held and the two new teams are allowed to pick from the existing pool. But then the new owners might oppose the idea of getting to select players from a restricted pool. In that case, it needs to be decided whether a fresh auction may be called having all the players from all the teams back in the auction pool.”

Another important matter which needs clarification is with issues related to the de-merger of CSK from India Cements Ltd.

“Since during our last GC meeting, we have forwarded the matter of CSK’s de-merger and share valuation issue to the Working Committee. They will be taking legal opinion and we have to wait for it. We must be very careful about it keeping the legal implications in mind,” The GC member added.