The Kashmir Premier League has decided to take legal action against its main sponsor for the second edition of the tournament, Kingdom Valley after the company refused to pay Rs. 130 million for the title sponsorship and taxes of the KPL 2.
The KPL management has stated that it will not be able to pay the players until the payment is received from Kingdom Valley. The sponsor has already paid for the umpire’s sponsorship and franchise ownership of Jammu Jaanbaz but the outstanding amount for taxes and title sponsorship of the KPL season 2 has not been fulfilled. Legal action is being taken by KPL to recover the funds owed by Kingdom Valley.
Here is the legal notice:
The chairman of Kingdom Valley, Chaudhry Ghulam Hussain, has responded to the claims from the Kashmir Premier League (KPL) by alleging that he only owes Rs. 30-40 million and not the full Rs. 130 million
He claims that KPL tricked him into the sponsorship deal and did not provide receipts or share promised broadcasting profits. He also alleges that the KPL did not pay taxes to the government and that he only agreed to sponsor the league to support Kashmir.
He further mentioned that Kingdom Valley has successfully sponsored various tournaments in the past and remains a trustworthy brand. These allegations by the chairman raise questions about the transparency and fairness of the sponsorship agreement between Kingdom Valley and the KPL.
While the KPL management has decided to go to court in ten days if Kingdom Valley failed to pay the due amount, the company is gearing up to sponsor the country’s biggest cricketing event, the PSL.