In a big relief to Rajasthan Royal’s future on its participation in the fourth edition of the Indian Premier League (IPL-4), the Bombay High Court today upheld the six-week stay on the termination of Rajasthan Royal's IPL contract by the BCCI.
The court has also allowed Rajasthan Royals to take part in the IPL-4 auction, which is scheduled on 8th and 9th January respectively. However, the court asked the Rajasthan Royals to reveal their ownership pattern and also furnish a bank guarantee of $20.83 million for players and The Board of Control for Cricket in India (BCCI).
Earlier, The court upheld the decision of Justice BN Srikrishna, who on November 30 had termed the termination of the contract by BCCI as illegal.
The BCCI had terminated Rajasthan Royals and Kings XI Punjab's IPL contract for alleged breach of agreement on 10th October.
The BCCI president Shashank Manohar had said on 29th September about the several irregularities and breach of terms and conditions of the IPL franchise agreement.
This is the second setback for the BCCI after the Bombay High Court had stayed the termination contract of IPL franchise Kings XI Punjab on 8th December.
BCCI have permitted each franchise to retain four players from their previous season’s squad, but they would shell out $1.8 million from the permissible spending amount of $9 million against the first player retained; thereafter $1.3 million, $900,000 and $500,000, respectively, against the next three players.
Both the Mumbai Indians and the Chennai Super Kings retained four players each, both denting their expenses by $4.5 million. Rajasthan Royals retained two players, bringing down their purse by $3.1 million. Delhi Daredevils and Royal Challengers Bangalore both spent $1.8 million, by retaining a player each.
This year, five teams have retained one or more players for IPL-4:
Sachin Tendulkar (Mumbai Indians), Mahendra Singh Dhoni (Chennai Super Kings), Shane Warne (Rajasthan Royals), Virender Sehwag (Delhi Daredevils), Virat Kohli (Royal Challengers Bangalore)
All the above players were the first to be retained by their respective teams and consequently shifted to the price bracket of $1.8 million.
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