Competition Commission penalises BCCI with 52 crore fine over IPL media rights
BCCI
The fine was imposed by Competition Commission for anti-competitive practices regarding IPL media rights
The Board of Control for Cricket in India (BCCI) was slapped with a fine of Rs 52.24 crore on Wednesday.
The fine was imposed by Competition Commission for anti-competitive practices regarding IPL media rights.
The Commission issued a 44-page order. The order stated that the penalty of Rs 52.24 crore accounts to nearly 4.48 per cent of the Cricket board's relevant turnover in the last three financial years.
The average turnover of the BCCI for the past three financial years 2013-2016, is Rs 1,164.7 crore.
"The assessment of the Commission clearly brings out that the impugned clause in the IPL (Indian Premier League) Media Rights Agreement has been pursued by BCCI consciously to protect the commercial interest of the bidders of broadcasting rights as well as the economic interest of BCCI," it said.
The watchdog had penalised the Cricket board with a fine of Rs 52.24 crore in 2013 as well.
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(With inputs from PTI)