IMG will now be paid Rs 27 crore, a reduction of Rs 6 crore from the stipulated amount, for their services in managing the Indian Premier league, a top BCCI source said.
The decision to retain the services of IMG was ratified at the 80th Annual General Meeting of the BCCI here which had a 13-point agenda, including clearing the IPL-II accounts.
The expenditure for the IPL, shifted to South Africa because of general elections, included a bill of Rs 33 crore to be paid to IMG. This had not gone down well with the members of the all-powerful Working Committee.
A resultant termination letter sent to the IMG by secretary N Srinivasan brought in a wave of protest letters from seven franchises and former president Sharad Pawar.
"We would be paying IMG Rs 27 crore per year (as compared to Rs 43 crore in 2008 and Rs 33 crore in 2009). The deal is for ten years starting 2008," the Board chief said.
Manohar also issued a warning to the IPL franchises who jumped into the fray and said the BCCI would not tolerate any such interference in its internal affair in future.
The development was seen as a tug-of-war between BCCI heavyweights Srinivasan, also owner of the IPL team Chennai Super Kings, and Lalit Modi, the chairman of IPL and a vice president of the Board.
The controversy halted, at least temporarily, when IPL Governing Council vested BCCI President Shashank Manohar with the powers to deal with the matter and report to the AGM.
It was also decided that the Corporate Trophy would be named after former BCCI president Raj Singh Dungarpur, who passed away this month.
The BCCI also approved the setting up of an Umpires' Academy at Nagpur. Scorers and Statisticians will also be trained at the academy.
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