BCCI likely to lose 2000 crores due to Kochi termination: Modi

BCCI likely to lose 2000 crores due to Kochi termination: Modi

The BCCI yesterday decided to terminate the IPL contract of Kochi franchise due to non-payment of bank guarantee.

"Kochi now being terminated - a further loss of 1500 crores to BCCI. Compounded by reduction in Media Rights. My estimate 2000 crores. Who is responsible for this mess now? Current President and outgoing President for sure. Who will they blame now for this. Where is the accountability and who will take responsibility," Modi wrote on his twitter page.

Terming himself as a self-proclaimed whistle blower about the shady dealing related to Kochi, Modi wrote in his blog: "Now, 18 months later, the BCCI has terminated the Kochi contract on the basis of an unpaid bank guarantee which, according to new President, N. Srinivasan, "....is not capable of being remedied."

"As a consequence, the BCCI now stands to lose more than US $300 million by virtue of reduced commercial revenue because Kochi's suspension means fewer teams and therefore games - not to mention a loss of credibility for the IPL itself," he saaid.

Modi stated that he now wants to know as to who will own the responsibility for this mess.

"It is a situation that could have been avoided but what it shows is that the unsubstantiated accusations made against me suggesting I imposed 'onerous' conditions purely to try and manipulate the bidding process towards my preferred bidders has been shot to pieces."