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CL T20 prize-money awaiting regulatory approval

March 10, 2011 16:42 IST

The Indian Premier League on Thursday said the prize-money for last year's Champions League Twenty20 tournament, held in South Africa, has not been disbursed yet because of the need for regulatory approvals by the treasury department.

"Regulatory approvals from the treasury department are awaited," Sundar Raman, CEO of the IPL, owned by the Board of Control for Cricket in India, one of the founders of the CL T20 league, told reporters on the sidelines of a press conference to announce the launch of an IPL specific edition of one of its sponsors, Volkswagen.

- Check out the IPL-4 schedule

Raman brushed aside reports that players from Australia may boycott the next edition of the CL T20 league because of non-payment of prize-money.

The Federation of International Cricketers' Association (FICA) has reportedly asked players to stay away from this year's CL T20, saying that the tournament has "little or no credibility" given that prize-money from last year's edition has still not been paid.

FICA Chief Executive Tim May said six million dollars remain unpaid, of which Victoria is owed 200,000 dollars, while South Australia 500,000 dollars.

The IPL CEO also said that the BCCI, "has addressed" the reported reluctance of the Kochi franchise to play their matches in IPL season 4 in Kochi due to lack of proper cricket infrastructure.

He also said the IPL schedule which is finalized stands as it is until some changes have to be made because of elections in a few state assemblies.

"We will inform as and when it happens. At the moment the schedule stands," Raman added.

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