IPL: $1.64 billion TV rights documents missing

IPL: $1.64 billion TV rights documents missing

The IPL scam is getting murkier by the day. A number of papers, documents, contract agreements and other vital records concerning the franchisee auction have allegedly gone missing from the BCCI headquarters in Mumbai. The latest is that the papers relating to the highly controversial $1.64 billion TV rights contract between BCCI, Multi-Screen Media (MSM) and World Sports Group (WSG) involving a suspect “facilitation” fee of $80 million are not with BCCI, nor apparently with suspended IPL chief Lalit Modi.

The contract deals with IPL TV rights for nine years from 2009 onwards that were renegotiated after the original deal signed in 2008 for $1.02 billion was terminated. Papers of such a huge contract are normally kept with care for future reference so that it is observed by the parties concerned in letter and spirit.

Income-tax authorities are looking for these papers, and the BCCI is flabbergasted by their absence. The suspended IPL chief is understood to have been the key person who negotiated this tripartite deal between BCCI and MSM, a Sony subsidy, and WSG a Mauritius based enterprise.

The deal was very suspicious as after the 2008 contract was cancelled, the rights were parked with WSG (Mauritius) for a few days before being given back to MSM. . The decision to park rights with a company in a tax haven is seen as a bid to facilitate payments in a manner where tracing the end beneficiaries would be near

Moreover, papers related to digital, image rights awarded to Global Cricket Ventures, a firm held by Elephant Capital where Modi’s step son-in-law Gaurav Burman has a stake with his brother, are also untraceable.

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