Sports: BCCI unlikely to recruit CFO for time being; Here's the reason

DN Bureau

The Indian cricket board is unlikely to hire a new Chief Financial Officer (CFO) in near future even though Santosh Rangnekar resigned from the post six months back.

BCCI
BCCI

New Delhi: The Indian cricket board is unlikely to hire a new Chief Financial Officer (CFO) in near future even though Santosh Rangnekar resigned from the post six months back.

While BCCI CEO Rahul Johri was asked to take back his resignation and continue till the end of his tenure (2021), it is learnt that the top brass feels there is no immediate requirement of a CFO as the treasurer is their point person.

"The BCCI is unlikely to recruit a CFO any time soon. If you read the new constitution carefully, there is a mandatory provision for a Chief Executive Officer but there is no mention that you need to have a CFO," a senior BCCI official privy to the development told on conditions of anonymity.

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It was Committee of Administrators (CoA) which had recruited Rangnekar and the move was seen as a deliberate ploy to undermine the then treasurer's authority.

Once the BCCI had the democratic set up back in place and powers of treasurer restored, the post of CFO became redundant.

It is unlikely that in the current situation when sporting bodies are under financial stress, the BCCI would employ another high-salaried executive.

"The current treasurer Arun Dhumal is hands on and if he needs help, the CEO at times can double up and do the job of CFO if need be."

With BCCI's apparel sponsorship deal with sports giants Nike ending soon, the Board will soon float tender for fresh sponsorship.

During a recent apex council meeting, it was decided that a RFP (Request For Proposal) or tender will be floated soon to decide on the next apparel sponsors.

Also Read: IPL 2020 suspended until further notice amid coronavirus crisis

Those in the know of things said that in the current economic climate, the BCCI would find it difficult to grab a whopping deal.

The BCCI also believes that a transparent tender process would give them a chance to have a good deal instead of a renegotiation.

Nike came in as sponsors way back in 2006 and in 2016, the deal, pegged at Rs 370 crore, was renewed for five years. The contract ends on September 30 this year. (PTI)

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