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"The IPL is a very robust business model. In fact, some of the owners will end up making profits in year one itself," Modi said.
He outlined the benefits and revenues that team owners stood to make from the IPL.
"Team owners get 80 per cent of broadcast revenues, 60 per cent of sponsorship revenues, 100 per cent of team sponsorship revenues, 80 per cent of ticket revenues, 87.5 per cent of all merchandising revenues and 100 per cent of all hospitality revenues," Modi told Geo News in a telephonic interview.
He said there would be tax deduction on the income of the overseas players and they would get the full amount bid on them in the players' auction but would be paid for the number of matches they are available for.
"It does not matter if they play or not. If they are available and even if they are on the bench they will get paid for the match," he stated.
Modi said the tax deductions would be based on each country's bilateral trade treaty with India.
"As the players are earning their money in India, they are subject to the bilateral trade treaty conditions," he said.
He also ruled out any chance of IPL turning into a playing field for bookmakers and the betting mafia.
"Since the IPL is being organised by an independent body of the BCCI, we have the anti-corruption and security unit of the International Cricket Council taking care of things and keeping an eye on things in the tournament," he said.
Modi pointed out that the IPL operates through a governing council that has a five-year term and has to report to the BCCI once a year.
"Structurally, it is an independent operating body of the BCCI and we have professionals running things," he added.