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New Delhi - Indian Premier League (IPL) chief Lalit Modi faced an uncertain future on Tuesday after the government launched a probe into the financial dealings of the money-spinning cricket tournament.
The tax investigation began after revelations by Modi led to the resignation of a government minister and claims from the opposition that the league was a front for money laundering and illegal betting.
Top officials of the Board of Control for Cricket in India (BCCI), which owns the IPL, are believed to blame Modi, 46, for attracting the taxman to their door and many want him to quit as IPL commissioner.
Modi, the driving force behind the success of the IPL, which has seen its brand value surge to $4.1bn in just three short years, has vehemently denied any wrongdoing.
"Lots in media - speculations," Modi wrote on his Twitter page from Dubai where he is representing the BCCI at an International Cricket Council meeting.
"Welcome all investigation. Ready to extend all cooperation," he added.
The IPL, which began in 2008, features the world's top cricketers playing a shortened format of the game known as Twenty20. There are eight franchises owned by India's wealthy businessmen and film stars.
When Modi returns to India later on Tuesday he will be confronted by a combative media, which has already predicted that his days as IPL boss are numbered.
There was growing speculation that Modi will quit before a meeting of the 14-member IPL governing council in Mumbai next Monday, but BCCI officials cautioned against jumping the gun.
"Look, there is a lot of anger that Modi has put us in such a mess," a senior BCCI official said. "The board has never faced such embarrassment.
"But the general opinion is to give Modi a chance to explain his side of the story... if he wants to that is."
The income-tax department has summoned IPL officials to hand over all paperwork pertaining to the tournament by Friday, including details on television rights, sponsorships and deals with franchises and players.
Modi brought down junior foreign minister Shashi Tharoor by revealing on Twitter the ownership structure of a new IPL franchise which showed a free stake had been gifted to the politician's girlfriend.
Tharoor, a former top UN diplomat, was forced to resign on Sunday over allegations -- which he strongly denied -- that the stake was a kickback for his help in putting together the consortium that bought the franchise.
The furore led the main opposition Bharatiya Janata Party to demand an investigation into the IPL, which it labelled "the Corruption Premier League".
Liquor and airline baron Vijay Mallya, who owns the Bangalore Royal Challengers IPL franchise, jumped to Modi's defence, saying a needless controversy was brewing.
"Modi has done a great job with the IPL, which is one of the leading sports brands in the world," Mallya told reporters. "The entire IPL cannot be tainted by this controversy.
"We at the Royal Challengers are clean. I am sure the other franchises will also want to be transparent. Let's not jump the gun. We must wait for the tax probe to be over."
Two new franchises were added to the IPL last month and a fresh auction of players will be held later this year for the 2011 season.
The tax investigation began after revelations by Modi led to the resignation of a government minister and claims from the opposition that the league was a front for money laundering and illegal betting.
Top officials of the Board of Control for Cricket in India (BCCI), which owns the IPL, are believed to blame Modi, 46, for attracting the taxman to their door and many want him to quit as IPL commissioner.
Modi, the driving force behind the success of the IPL, which has seen its brand value surge to $4.1bn in just three short years, has vehemently denied any wrongdoing.
"Lots in media - speculations," Modi wrote on his Twitter page from Dubai where he is representing the BCCI at an International Cricket Council meeting.
"Welcome all investigation. Ready to extend all cooperation," he added.
The IPL, which began in 2008, features the world's top cricketers playing a shortened format of the game known as Twenty20. There are eight franchises owned by India's wealthy businessmen and film stars.
When Modi returns to India later on Tuesday he will be confronted by a combative media, which has already predicted that his days as IPL boss are numbered.
There was growing speculation that Modi will quit before a meeting of the 14-member IPL governing council in Mumbai next Monday, but BCCI officials cautioned against jumping the gun.
"Look, there is a lot of anger that Modi has put us in such a mess," a senior BCCI official said. "The board has never faced such embarrassment.
"But the general opinion is to give Modi a chance to explain his side of the story... if he wants to that is."
The income-tax department has summoned IPL officials to hand over all paperwork pertaining to the tournament by Friday, including details on television rights, sponsorships and deals with franchises and players.
Modi brought down junior foreign minister Shashi Tharoor by revealing on Twitter the ownership structure of a new IPL franchise which showed a free stake had been gifted to the politician's girlfriend.
Tharoor, a former top UN diplomat, was forced to resign on Sunday over allegations -- which he strongly denied -- that the stake was a kickback for his help in putting together the consortium that bought the franchise.
The furore led the main opposition Bharatiya Janata Party to demand an investigation into the IPL, which it labelled "the Corruption Premier League".
Liquor and airline baron Vijay Mallya, who owns the Bangalore Royal Challengers IPL franchise, jumped to Modi's defence, saying a needless controversy was brewing.
"Modi has done a great job with the IPL, which is one of the leading sports brands in the world," Mallya told reporters. "The entire IPL cannot be tainted by this controversy.
"We at the Royal Challengers are clean. I am sure the other franchises will also want to be transparent. Let's not jump the gun. We must wait for the tax probe to be over."
Two new franchises were added to the IPL last month and a fresh auction of players will be held later this year for the 2011 season.
