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INTRODUCTION
Indian Premier League or IPL a total package containing cricket and entertainment organized by BCCI. Brainchild of Mr. Lalit Modi, Former President IPL. Launched on 14th September 2007 by BCCI on the line of Footballs English Premier league (EPL). DLF secured exclusive rights for IPL title sponsorship at Rs. 200 Cr. For 5 years. Professional twenty20 cricket league created and promoted by BCCI and backed by ICC Ranked 22nd as the most innovative product launched(FORBES)
About Teams
The IPL teams were auctioned on 24th January 2008. Eight teams were build up according to the regions of India.
Remarkable Achievements
Emergence of Brand India. Emergence of a business within cricket, thus generating more scope for business. Better opportunity for Indian players to showcase themselves, which was earlier limited to only 11 players. Boost for Advertising industry by IPL alone Rs.300 Crores
SCAM 2:-
The 2nd scam is the Advertisements within Balls scam. Lalit Modi introduced the idea of 150 seconds of ads within balls. Modi handed this without tender to Pioneer Digagsis run by former Sony chief Kunal Dasgupta. BCCI alleges Modi indulged in favouritism hurting Board's interests.
SCAM 3:-
SCAM 4 :-
The fourth scam is being called the Security van scam. IPL awards contract to Visual Impact headed by Ajay Verma. Contract is to supply 3 vans at Rs 5 crores. Contract further said 4 more vans to be provided over next 7 years. BCCI alleges Modi did not follow due process while awarding contract. BCCI alleges Modi hired IPL security vans at 3 times their market value.
SCAM 5:An amount of Rs 76 crore and 22 lakh through sale of hospitality tickets for the final (on April 25), the third place tie (held on April 24) and the two semifinals (all held in Mumbai) is unaccounted for. Only 30,000 tickets for the final have been accounted for while the stadium (D Y Patil Stadium) was packed to capacity as everyone had seen and it can hold 52,000 people. Over 20,000 tickets are unaccounted for.
Of the 26% held by Rendezvous Sports World in whose name the title rights were vested, the Gaekwads would only get (10%) free plus (1%) paid,
Sunanda Pushkar (5%)(Close to Shashi Tharoor) and another (10%) was reserved for the brand ambassador for the team
The Kochi consortium alleges that Modi offered them a $50 million bribe to abandon their bid after they had won the Kochi franchise. Lalit Modi suspended. Shashi Tharoor gave his resignation. On September 19, 2011, the newly elected BCCI president N Srinivasan, after the annual general meeting in Mumbai, announced that the Kochi Tuskers Kerala IPL franchise was terminated by the BCCI for breaching its terms of agreement.
Conclusion
Business scams clearly violate business ethics. Scams exploit typical human qualities such as greed, honesty, vanity, compassion & irresponsibility. Honesty Is The Best Policy
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