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Mallya's team gets bank a/c rights

Our Bureau

NEW DELHI, Dec 5

THE Vijay Mallya-led Indian Premier Football Association (IPFA) has received the right to operate the bank account of the National Football League along with six representatives in the committee.

A profit-sharing arrangement has also been worked out and a joint finance committee will be set up in which half of the 12 representatives will be from the IPFA.

It has also been decided that Mr Shivanand Salgaonkar of the Salgaonkar group of industries which owns the Salgaonkar club will be the signatory to the bank account on behalf of the club owners.

There appears to be a confusion regarding the profit-sharing arrangement. Mr Anjan Mitra, Managing Director of McDowell Mohun Bagan and Vice-President of IPFA, told Business Line that ``for the first year profit will be shared between the IPFA and AIFF o n a 50:50 basis and from the second year on it will be on a 80:20 basis''. Mr Priya Ranjan Dasmunshi, President, AIFF, said that ``it will be on a 80:20 basis in favour of the clubs from this year.''

From next year, the corporate clubs will have a greater share on the entire show and will have 10 representatives in the 12-member National League Committee, according to Mr Mitra, while Mr Dasmunshi put it as eight representatives.