MUMBAI: It was double victory for the BCCI which was basking in glory of the record title sponsorship deal signed by Pepsi for IPL. Kings XI Punjab (KXIP) has agreed to settle its legal disputes with India‘s cricket board outside the court.
The BCCI resolved its dispute with Kings XI Punjab over alleged breach of franchisee agreements. The franchise owners have agreed to pay Rs 10 million for the breach of agreement.
According to reports, BCCI officials had met representatives of KXIP in Mumbai on Wednesday to find a middleground.
The BCCI had in 2010 terminated its franchise agreement with KXIP following which the franchise approached Bombay High Court challenging the decision.
A division bench of Bombay HC had upheld the injunction order passed by a single bench which saw the franchise being re-instated.