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TNCA owes Rs.2,081 crores rent to TN Govt for MAC

The cash rich Cricket Associations may be making lot of money but when it comes to clearing the payment, they are no less than a normal debtor. When the State Government is reeling with shortage of funds and trying to bridge the gap by not waiving off the tax on movie tickets and increasing it on Corporation and Sewage taxes, it has come to the news that Tamilnadu Cricket Association has been owing an amount of Rs.2,081 crores as rent to Tamilnadu Government.

The lease of the 7.52 lakh sq.ft stadium which has lapsed in April 2015 has not been renewed and has resulted in the arrears of 15 years of lease rent not being collected. The period in question for the lease rent due is from 2000 to April 2015 as per the report tabled in the assembly by the Comptroller and Auditor General of India(CAG).

A top TNCA official said when the lease agreement was drafted, it was agreed in consensus between both the parties that TNCA would pay half the market value of the land after a stipulated period but at the time of signing the agreement, it was doubled which was a genuine mistake and has not been rectified till date.

It is also to be noted during the hey days, MAC had hosted lot of International matches be it ODI or Test Match and is the favourite ground for Maestro Sachin Tendulkar. It also saw most of the IPL matches which Chennai Super Kings played in the earlier editions were hosted here but came to an abrupt halt after the court intervention preventing it to hos any matches due to the alleged violation of construction of few stands which posed a security threat to the public and the viewers. Adding more woes to it, CSK was banned for 2 years from 2015 to play in the IPL due to the betting scandal.

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