I-League Chief Executive Officer, Sunando Dhar told PTI that a meeting was held between AIFF officials and IMG-Reliance today and it was decided that final modalities of the event will be put before the Emergency Committee of the Federation, which will meet on July 30 and the clubs will also be consulted in another meeting on August 6.
"It is more or less decided now that there will be eight city-based franchises which will run eight teams for the tournament, which is expected to future some top footballers, who had played at the World Cup," Dhar said after a meeting here.
The I-League clubs wanted 50 per cent revenue share from the IMG-Reliance from the TV rights deals and other revenue collected.
The I-League players will also be allowed to take part in the tournament and they will be bought by the franchises through a player's auction.
"The AIFF is also giving compensation to the clubs for their players to feature in the tournament," Dhar said.
The IPL-style football league has been doing the rounds and last Thursday, IMG-Reliance, the commercial partners of the All India Football Federation (AIFF), had met the AIFF top brass but no major decision was taken. MORE
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