"There's a binding contract and the same would govern the manner in which the two parties interact. See there are lot of small developments that take place on a daily basis in an organisation such as the BCCI but that doesn't mean there's any need to jump the gun (he smiled). Someone heard some chatter and pressed the panic button somewhat prematurely. Well, these are the kind of things that give you experience," the source said.
"The bottom line is that as of now there is no change. If the situation changes, we will address it."
An official of one of the leading franchises confirmed that the owner had received a call on the same. "Yes, he is known to have good terms with one of the BCCI officials and he did call up the owner to inform that Vivo might be walking away. But I think the decision isn't final. Whatever the status, we believe that a serious matter like this will be formally taken up by the BCCI with all the franchises if the need arises," the official told IANS.
In fact, sources in the know of developments confirmed that in a meeting of the franchises with BCCI officials it was this very person who had raised the issue of compensation for ticket revenue. "He had raised the issue of compensation for ticket revenue. But all the others present stressed that ticket revenue was the least of everyone's concerns and what was important was that the IPL season actually takes place this year," the source said.