IOA president PT Usha rejects claims of faulty agreement with Mukesh Ambani's Reliance, says THIS

Indian Olympic Association President PT Usha has refuted treasurer Sahdev Yadav's claims in a CAG report that a faulty sponsorship agreement with Mukesh Ambani's Reliance Industries Limited (RIL) led to a loss of Rs 24 crore to the IOA.

In a statement, Usha said it was a ploy to tarnish her reputation and threatened legal action against anyone who will indulge in giving "misleading information". "Dr. Usha strongly refuted the claims made by Mr. Sahdev Yadav in the CAG report, alleging that she acted without the knowledge of the IOA Executive Council. These claims, according to her, are part of a deliberate attempt to tarnish her reputation and discredit the IOA," a press release from the IOA stated.

"In reality the negotiation proposal was circulated to all Executive Council members on 9 September, 2023 and later forwarded by the Acting CEO in a letter dater 5 October, 2023. Mr. Rohit Rajpal, representing the Sponsorship Committee, was present at the meetings where the negotiation was discussed."

According to the terms of the sponsorship agreement dated August 1, 2022, RIL was permitted to associate with IOA as Official Principal Partner of the Asian Games (2022, 2026), Commonwealth Games (2022, 2026), 2024 Paris Olympics and 2028 Los Angeles Olympics.

The agreement also gave RIL the authority to build the 'India House' during these Games. But the CAG report said on December 5, 2023, additional rights of Winter Olympic Games (2026, 2030) and Youth Olympic Games (2026, 2030) were also granted to RIL through an amended agreement. This was due to International Olympic Committee's refusal to allow naming rights of the NOC House to any sponsor.

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Usha said due process was followed while redrafting the deal with RIL. "The Addendum to the agreement was drafted under the guidance of one of India's leading sports lawyer, Mr. Nandan Kamath of NK Law, Bangalore. The Acting CEO was kept in the loop, copied on all relevant emails."

"Dr. Usha expressed her surprised that shortly after the revised agreement, the IOA's Finance Committee and Treasurer decided to terminate Mr. Kamath's services despite his appointment as a legal advisor to the IOA by them in May 2003," the statement read.

"...All decision taken were in the best interest of the IOA and Indian athletes, ensuring that no financial loss was incurred. Any further attempts to mislead the public or undermine the IOA's efforts will be met with appropriate legal action," it added.

(Except for the headline, this story has not been edited by DNA staff and is published from PTI)