Corporate honcho Kunal Dasgupta decides to call it a day amidst the huge controversy over Sony’s
Indian Premier League cricket deal with BCCI. According to the statement issued by his company, Dasgupta, who is one of the highest paid CEOs in the entertainment industry, has resigned on personal grounds. Until the new CEO is picked up, Manjit Singh, presently the chairman of the MSM board will carry out the responsibilities of interim CEO. The corporate world has been taken aback by the development. Dasgupta’s resignation came after a MSM board meeting that lasted till 3 am.
Here is the reality check. On one hand, MSM picks up Airtel as an on-air sponsor. On the other hand, Reliance ADAG-owned Big TV, which was signed on as the on-ground sponsor by BCCI for the second Indian Premier League season, decides to tear up the contract. This infuriates the all powerful Cricket Board of India and asks the MSM to compensate for its Rs 137-crore loss on account of the pull out of Big TV. Kunal Dasgupta as the longest serving CEO of this company played a key role in importing Airtel in the picture and now he has paid the price.
Great dilemma awaits MSM in the upcoming days. On the one hand, it has been asked by BCCI to convert Bharti Airtel's exclusive on-air Rs 30-crore deal as a presenting sponsor to a consolidated ground and on-air deal. Either MSM has to ensure that Airtel also comes on board as IPL's on-ground sponsor, or they pay the price of triggering off BCCI’s anger and cough up some cool Rs 137 crore as a compensation for the alleged financial damage of Indian Premier League.
Kunal Dasgupta was renowned for his proximity to the entertainment industry as well as to the world of
cricket and his quit ahead of the most important domestic tournament of the country is not only a loss for the company management, but also for the world of cricket. With quitting MSM, he ceases to be the co-chairman of FICCI’s entertainment committee. However it is confirmed that Karan Johar is going to be one of the co-chairmen of this committee. Either termination of contact with Airtel, or cancellation of Indian Premier League rights---MSM seems to stand in the middle of a two-edged sword. And it is to be seen, how the company holds on to the blow in the absence of its long standing captain.
