The Board of Control for Cricket in India (BCCI) has decided to retain the services of UK-based International Management Group (IMG) for the next five editions of Indian Premier League beginning 2018.
The decision has also received the nod of the Committee of Administrators (COA), which is meeting in Delhi on Saturday to discuss the contracts of BCCI support staff.
While the IMG has been IPL’s service provider since its beginning in 2008, the BCCI will be paying around Rs 167.5 crore to the company, according to reports. IMG left behind three other bidders in the race to hold on to the contract at a value of Rs 27 crore per year for a period of 10 years.
According to reports, the BCCI will pay IMG close to 40% more of the previous one for services to be rendered over the next five years.
An official announcement on the deal between IPL and IMG is expected to be made by the cricket board on Saturday. The other three bidders who lost in race for the contract were MS Dhoni’s managerial team Rhiti Sports, an event management company Wizcraft, and a company with logistical expertise Group of 4.