Mumbai: The Board of Control for Cricket in India (BCCI) today gave its nod for another new tournament, an inter-corporate championship both in one-day and twenty Twenty20 formats.
The move was aimed at encouraging corporate houses to recruit cricketers and improve employment opportunities for players.
BCCI Working Committee, which met here today, approved a prize money of Rs one crore for the winner and Rs 50 lakh for the runner- up with the semifinalists getting Rs 25 lakhs each.
BCCI joint secretary and former member of the national selection panel, Sanjay Jagdale, will head a new committee that would oversee the conduct of the new tournament, with other members being K S Viswanathan, Prof R S Shetty, Chamundeshwaranath, Ranjib Biswal and Anirudh Choudhary, BCCI secretary N Srinivasan said in a release here.
The Board denied media reports that sponsors associated with it had defaulted in or delayed their payments. Mr Srinivasan, however, admitted that the Board would take a Rs 120 crore hit due to cancellation of two ODIs against England at Guwahati and Delhi and the tour of Pakistan in the wake of terrorist attack in Mumbai.