You are here: Home » Current Affairs » News » Sports
Business Standard

India may lose hosting rights of Champions Trophy, World Cup. Here's why

It is heard that the ICC is looking for options in the nations of the similar time zone to host the tournament

IANS  |  Dubai 

Virat Kohli and Sarfraz Ahmed with Champions Trophy 2017
India skipper Virat Kohli (right) with his Pakistan counterpart Sarfraz Ahmed along with Champions Trophy on the eve of their team's clash in the final tie of the tournament, at the Oval cricket ground in London. Photo: PTI

The Indian government's stance of not approving a tax exemption to the International Council (ICC) could possibly see losing out on hosting two of the biggest global tournaments - and -- in the next five years.

The board during its meeting here on Friday expressed concern, fearing revenue loss of at least $100 million, and therefore directed its management to look out for alternative venues, beginning with the Champions Trophy, if the issue is not resolved.

"The Board expressed their concern around the absence of a tax exemption from the for events held in despite ongoing efforts from both the and BCCI to secure the exemption which is standard practice for major sporting events around the world," the said in a media release, after the board meeting in on Friday.

"The Board agreed that management, supported by the BCCI will continue the dialogue with the but in the meantime directed management to explore alternative host countries in a similar time zone for the Champions Trophy 2021," the release added.

The board meeting which was also attended by BCCI has been stung by the experiences of the 2016 World T20 (hosted by India), for which tax exemption has not yet been approved, due to which the has suffered a revenue shortfall of $20-30 million.

Two years on, and despite constant reminders by the and the BCCI, the has not changed its stand on providing exemptions.

Despite the BCCI's attempts at facilitation, the board remains wary of exposing itself to what some officials calculate could be losses of $100-125 million if the fails to provide a tax exemption for and

First Published: Sat, February 10 2018. 14:46 IST
RECOMMENDED FOR YOU