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MCA likely to reduce Ranji champs' prize money to 1 crore

The Rs three crore prize money for the Ranji Trophy-winning team members and support staff is likely to come up at the 79th Annual General Meeting of the Mumbai Cricket Association (MCA) today.

Ravi Savant
MCA president Ravi Savant

The association’s officials had announced the mind-boggling prize money after Mumbai triumphed over Saurashtra to win the Ranji Trophy title for the 40th time in January.

However, it is learnt that the officials are now contemplating to reduce the prize money from Rs 3 crore to Rs 1 crore considering MCA’s current financial position.

The association is liable to pay approximately Rs 55 crore towards income tax after their charitable trust status was taken away. Sources have said that MCA’s bank deposits hover around the Rs 15-crore mark.

Meanwhile, issues regarding the accounts of the April 2011 World Cup final are likely to be discussed at length. Exorbitant catering expenses (approximately Rs 1.5 crore for the World Cup final) is one of the issues that the members are keen to seek clarification from the officials. The 405 unsold tickets for the World Cup final is unlikely to be discussed at the AGM as an inquiry to look into the fiasco is underway.

MCA may take legal action over insurance
The Mumbai Cricket Association (MCA) is all set to take legal steps against an insurance firm for the final settlement a Rs 5.33 crore claim for the abandoned ODI between India and Australia at the DY Patil Stadium, Nerul in November 2009. Bad weather had ruled out any possibility of play.  A source told

MiD DAY that the MCA has rejected Rs 1 crore as part payment from the company. The association has lodged the claim towards match expenses, loss of advertisement income and refund of tickets. 

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