IPTL in doubt as PVP opts out of Mumbai franchise, Bhupathi defiant

MUMBAI: The future of the much-hyped International Premier Tennis League (IPTL), floated by tennis ace Mahesh Bhupathi, the inaugural edition of which was scheduled to be held later this year, is now in serious doubt.
The Mumbai franchise, which was picked by Hyderabad-based entrepreneur Prasad V Potluri-led PVP Ventures, has pulled out citing lack of clarity over how the league's business model was progressing and disagreements over player contracts.
In addition to PVP bowing out, the league neither has its broadcaster in place nor the owner for the Bangkok franchise, which has further put a question mark over it. This development means that Indian tennis fans will not get to watch World's No. 2 player and nine-time French Open winner- Rafael Nadal - in action later this year in Mumbai, something the IPTL had promised earlier this year."
Speaking to TOI from Spain, Bhupathi said the league was in place as planned. As for PVP's exit, he said, "They missed the payment deadline and therefore they are out of the league. We've been very strict as far as payment deadlines are concerned," he said.
However, sources suggest there are other problems surrounding the IPTL. MP & Silva, the international media agency that was going to pick the broadcast rights for the league and additionally invest in the Singapore franchise according to the proposed business model, was yet to confirm its involvement.
"MP & Silva never came on board and the league didn't have any visibility over capital outpay," Potluri told TOI on Friday.
"How can we be convinced when the broadcasters aren't in place yet? Our main concern is that there's no clarity," he added.
According to the initial business model, the broadcast rights would have guaranteed a basic $3 million pool (through broadcast rights) to all franchises. Further, the Trimax Group, which was in the running to buy the Bangkok franchise, also hasn't come on board yet.
Bhupathi, however, swept aside these concerns and said that all the other parties (barring PVP) were in place for the IPTL. "We will be making a few important announcements in the coming weeks," he said.
Potluri refused to go into any more detail, saying he enjoyed good relations with Bhupathi and would refrain from making any more comments.
However, sources did point out that another point of concern for PVP Ventures was that Bhupathi wanted the franchise owners to make the player payments directly, without the involvement of IPTL.
Sources said PVP and Bhupathi were on the same page despite lack of clarity over broadcast rights and central revenue pool until concerns regarding Nadal's payment arose. Bhupathi wanted the franchise owner to make the payment directly to the Spanish star and other players while the franchise wanted the agreement between the players, the franchise owner and the IPTL to be a tripartite one.
"He (Bhupathi) wanted the franchise to pay Nadal and the other players directly. But what if a top player doesn't turn up because of some injury or any other commitment? Who guarantees the payment?" a source vehemently asked.
Sources said consumer electronics company Micromax was slated to come on board, guaranteeing 50% of the payment for the Mumbai franchise, but that also has not materialized.
THE PRICKLY ISSUES
No clarity over broadcaster of the league which raises questions about its sustainability. MP & Silva, the international media agency, was going to pick the broadcast rights and also the Singapore franchise.
Trimax Group, expected to buy the Bangkok franchise, also aren't on board yet.
PVP raised questions over the league's business model.
IPTL did not take participate a tripartite contract for player payments.
Micromax was expected to come in as 50% partner in the Mumbai franchise which did not materialise.
The US$3m pool for each franchise through central sponsors not guaranteed yet.