Rajasthan Royals Friday said its co-owner Raj Kundra will be suspended if he is found guilty in the Indian Premier League (IPL) spot fixing and betting scandal.
Reacting to reports over Kundra's involvement in betting, the Rajasthan Royals said that he would also forfeit his shares in the franchise if he has breached any regulations.
Rajasthan Royals chairman Ranjit Barthakur and chief executive Raghu Iyer in a joint statement said that the franchise was co-operating with Delhi Police in the investigation. They said that Kundra is only a minority share holder (11.7 percent) and is not involved in running the team.
Delhi Police officers claim that Kundra, a British national, has admitted to betting and his passport has also be seized.
Rajasthan Royals said it is working hard as co-complainants to ensure that all information is made available to the investigating authorities.
"In the last few days, various members of the RR management have been assisting the Delhi Police in their investigation for a better appreciation and understanding of the matter. As we have stated before, we are cooperating with the authorities to ensure a thorough enquiry and will continue to share any such information that they may seek from us in the future," Rajasthan Royals said in a statement.
Rajasthan Royals said that as a franchise it is clear that the same rules apply to players, management and owners.
"As such, our actions will be consistent as in the case of the spot fixing allegations with respect to our players. Mr. Raj Kundra is a minority (11.7%) shareholder, and he has no involvement in the running of the franchise. We believe that Mr. Raj Kundra is a law abiding citizen and would not act contrary to law. If however, he is proven guilty, or has breached any regulations, he will be suspended and he will also forfeit his shares. This is a strict governance procedure agreed to by all Rajasthan Royals shareholders, and it is consistent with our zero tolerance approach," the statement read.
The spot fixing scandal in the IPL broke May 16 with the arrest of three Rajasthan Royals cricketers - S. Sreesanth, Ankeet Chavan and Ajit Chandila.
The franchise statement is seen as a clear attempt to distance itself from Kundra as it faced the prospect of their contract being terminated.
As per clause 11.3 (C) of the franchise agreement, a team can be terminated in the event of any of the owners bringing the game into disrepute.
The BCCI has called an Emergent Working Committee meeting here on Monday to discuss the Kundra issue and take action if required.
Chennai Super Kings also finds itself in a similar problem with its Team Principal Gurunath Meiyappan, who is the son-in-law of BCCI President N Srinivasan, being suspended on charges of betting. The CSK has, however, denied that he is an owner of the team.