The Cricket Board today decided to introduce an inter-corporate prize money tournament, to be conducted in 50-over and Twenty20 formats, to encourage business houses to recruit cricketers into their fold and improve the players' employment opportunities.
The winners of the proposed inter-corporate tournament would be richer by Rs one crore, the runners-up would get Rs 50 lakh and the losing semi finalists Rs 25 lakh each, as per a decision taken by the BCCI's all-powerful Working Committee here today.
BCCI's joint secretary and former member of the national selection panel, Sanjay Jagdale, was chosen as the chairman of the new committee formed to oversee the conduct of the Inter-Corporate tournament.
The other members are: K S Viswanathan, Prof. R S Shetty, Chamundeshwaranath, Ranjib Biswal and Anirudh Choudhary, BCCI secretary N Srinivasan said in a press release.
The Board rubbished reports in the media that sponsors associated with it have defaulted in or delayed their payments.
Srinivasan also stated that the BCCI's projected revenue has taken a hit to the tune of Rs 120 crore because of cancellation of two ODIs against England (scheduled at Guwahati and Delhi) and cancellation of the tour to Pakistan in the wake of the terror attacks in Mumbai.