Chennai Super Kings switches its owners while Rajasthan Royals now has a new name

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Chennai Super Kings switches its owners while Rajasthan Royals now has a new name

The Board of Control for Cricket in India (BCCI) got mired deeper in a fix on Tuesday.

First, the Indian Premier League’s (IPL) disbanded franchise Kochi Tuskers refused BCCI’s offer of Rs 850 crore in exchange of peace for terminating its contract illegally in 2011. It appears like the board may now have to dole out more than they expected, to strike a truce.

And second, it is facing a dilemma over how to deal with restructuring two tainted teams — Rajasthan Royals and Chennai Super Kings.

Also, Rajasthan Royals request to change in name has been approved by the IPL Governing Council and it will now be called as ‘Royals’.

“The dropping of word Rajasthan from the team’s name had already been approved by GC. The team’s name now is just Royals,” a council member informed DNA on Tuesday.

According to further reports, this change in name has helped them strike a sale deal with Sanjiv Goenka, who had managed Rising Pune Supergiant (RPS) last two seasons when RR and CSK were suspended for spot-fixing scandal in 2015.

The Royals’ team deal is approximately Rs 1,000 crore, whereas former BCCI chief N Srinivasan is giving a headache to the board by restructuring the ownership pattern.

Srinivasan has already transferred CSK shares amongst shareholders of India Cements and the value of the franchise shown is approximately Rs 50 lakh. This means that as per IPL contract, BCCI stands to gain Rs 50 crore as transfer money from Royals’ sale, but CSK transfer could fetch it only Rs 5 lakh.

“This issue related to CSK has been referred to our legal team. We will wait for their advice,” a GC official said on Tuesday. He, however, denied any knowledge of Royals’ sale to any third party. “There is nothing as such on record in front of GC or BCCI.”

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CATEGORY: Chennai Super Kings, Featured, IPL, News, Rajasthan Royals, T20

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