The salaries of all these players are well above Rs 5 lakhs © IANS
The salaries of all these players are well above Rs 5 lakhs © IANS

The Chennai Super Kings (CSK) find themselves in a fresh controversy as it was reported that their owners valued the franchise at Rs 5 lakhs. CSK’s ownership was passed down from India Cements to its subsidiary following the Supreme Court’s verdict that said that a Board of Control for Cricket in India (BCCI) official cannot own an Indian Premier League (IPL) franchise. N Srinivasan is the Managing Director of India Cements.

CSK valued themselves at Rs 5 Lakhs for the transfer, which was effected earlier this year. If one sees the rules, if a team is transferred from one entity to another, the BCCI is entitled to get five-percent of the transaction money. Thus, if CSK’s claim is to be believed, BCCI should have only got Rs 25,000, Indian Express reported.

India Today reported that this was not accepted by the new IPL Governing Council, however the previous one had. As they have now rejected it, the transfer of ownership has not been approved by the BCCI. It should be noted that the present Governing Council only came into being after the Supreme Court had asked for it.

This claim by the CSK owners has shocked many people in the cricketing fraternity. This is yet another controversy for a team that is trying to stay out of such episodes and focus on the field of play. When the minimum salary of a player is Rs 10 lakhs, how can the whole franchise be worth only half that? This is one of the many questions being asked after this news broke out.