New Delhi, August 30: The Indian Cricket Board has cancelled its contract with event management company IMG World, which played a significant role in the success of the first two editions of the cash-rich Indian Premier League.
The decision to snap ties was taken after the BCCI Working Committee refused to approve the terms and conditions of the contract.
BCCI secretary N Srinivasan, who negotiated the agreement with IMG senior vice-president Andrew Wildblood, conveyed the board`s decision to the company in a letter.
Srinivasan said in the letter that BCCI primarily engaged the company for the first edition of the IPL for an amount of Rs 42.92 crore after which the board`s Working Committee refused to approve the terms and conditions of the contract.
The letter added that when the negotiations between the two parties were at a pending stage, the BCCI again decided to use IMG`s services for IPL-II in South Africa earlier this year.
However, when contacted BCCI President Shashank Manohar said, “I will neither confirm nor deny the development.”
–Agencies