News No exit clause in Star’s deal for Champions Twenty20 League: Lalit Modi

[Deepu]

In the past few days, there have been media reports that the BCCI has decided to end the Champions League Twenty20 event. Star, which paid over $1 billion for the rights, has already lost millions on it and will have to pay a hefty exit fee. Reacting to the same, former IPL chairman, commissioner Lalit Modi wrote on Twitter that he had last year tweeted about a secret meeting that took place between Star India CEO Uday Shankar and IPL COO Sundar Raman in Melbourne.

Read more at: http://www.televisionpost.com/television/no-exit-clause-in-stars-deal-for-champions-twenty20-league-lalit-modi/ | TelevisionPost.com

 

[DashMajor]

So because of STAR, CLT20 gonna cancel ?

In that case IPL would definitely moves to STAR in next bid.

 

[DashMajor]

How simple cricket related news looks like because of BCCI, ICC Chairman's post comes in jeopardy.

Because of STAR a league looking to cancel.

Sometimes I feel that cricket is the home matter of BCCI and STAR India which they solves from home.

 

[NinadG]

Star already paid $1 Bn or is paying in tranches....
If BCCI has decided to end the Champions League Twenty20 event just because Star is losing money then its very bad....

 

[DashMajor]

I don't know what kind of deal are with STAR.

But broadcasters pays money on yearly basis and during contract signing they needs to submit bank guarantee according to bid price.

Since deal is for 10 years, 4 more years remaining for CLT20.