BCB Statement Regarding Outstanding Payments from S.Q. Sports Enterprise Ltd.
It has come to the knowledge of Bangladesh Cricket Board (BCB) that various incorrect and misleading information has been circulated in various media platforms regarding outstanding amount payable by S.Q. Sports Enterprise Ltd. to the BCB for 1st & 2nd editions of the Bangladesh Premier League (BPL) T20 tournament. Thus, BCB hereby states the true facts regarding outstanding amount payable by S.Q. Sports Enterprise Ltd. to BCB for various editions of the BPL T20 tournament.
Termination of Chittagong Kings’ Franchise Rights & Demand for Outstanding Payments
S.Q. Sports Enterprise Ltd., the owner of the Chittagong Kings Team in the 1st, 2nd & 11th edition of BPL T20 tournament, have persistently breached its legal and financial obligations related to the 1st (2012) and 2nd (2013) editions of the BPL T20 tournament. Despite multiple reminders and notices issued by BCB from 2013 to 2025 including, but not limited to Notice of Arbitration dated 7 May 2013 and Legal Notice dated 22 July 2025, S.Q. Sports Enterprise Ltd. failed to perform its contractual obligations, which included unpaid franchise fees, tax liabilities, and dues to players and team personnel.
In an effort to resolve the matter amicably, a Settlement Agreement was signed by BCB and S.Q. Sports Enterprise Ltd. on 20 September 2024. However, S.Q. Sports Enterprise Ltd. completely failed to make any payment as per the terms of the said Settlement Agreement. As a consequence, BCB by Notice dated 22 July 2025 terminated the Settlement Agreement and made a Claim with an updated amount of USD 3,782,156.16 (Three Million Seven Hundred Eighty-Two Thousand One Hundred Fifty-Six Dollars and Sixteen Cents). Accordingly, BCB is continuing to take all available legal remedies to recover all outstanding dues.
Outstanding Amount from 2012 to 2025 payable by S.Q. Sports Enterprise Ltd. to BCB regarding 1st & 2nd editions of the BPL T20 tournament. (Amounts presented in US$)
The total original Outstanding Amount payable by S.Q. Sports Enterprise Ltd. to BCB regarding 1st & 2nd editions of the BPL T20 tournament has increased for accumulated outstanding interest payments accrued thereon from 2012 to 2025. Moreover, since the original payment liabilities of S.Q. Sports Enterprise Ltd. for the aforesaid editions of BPL T20 tournament were recorded in US Dollars, the current total Outstanding Amount from 2012 to 2025 payable by S.Q. Sports Enterprise Ltd. to BCB regarding 1st & 2nd editions of the BPL T20 tournament (as of 30 June 2025) has increased, due to depreciation of value of Bangladeshi Taka against US Dollar. Thus, the said total outstanding amount reflects payments made by the Bangladesh Cricket Board (BCB) on behalf of the franchise, unpaid franchise fees, tax liabilities, dues to players and team personnel as well as the accrued outstanding interest payments.
Furthermore, according to provisions stated in the legal notice dated 22 July 2025, S.Q. Sports Enterprise Ltd. is no longer eligible to settle its outstanding liabilities by paying the previously agreed sum of BDT 35,000,000/- (Thirty-Five Million Bangladeshi Taka) only.
As of 30 June 2025, the updated financial details are as follows:
Original Outstanding Amount: USD 1,550,064 (One Million Five Hundred Fifty Thousand and Sixty-Four US Dollars)
Accrued Interest from 2012 to 2025: USD 2,232,092.16 (Two Million Two Hundred and Thirty-Two Thousand Ninety-Two Dollars and Sixteen Cents).
Total Outstanding Amount (as of 30 June 2025): USD 3,782,156.16 (Three Million Seven Hundred Eighty-Two Thousand One Hundred Fifty-Six Dollars and Sixteen Cents).
Additional Unpaid Dues - 11th Edition of BPL T20
Lastly, in addition to the abovementioned total outstanding amount, S.Q. Sports Enterprise Ltd. also failed to make various payments relating to the 11th edition of BPL T20 tournament to various stakeholders including players, coach, hotel and vendors. In this regard, BCB is regularly receiving complaints and notices regarding the outstanding amounts payable by S.Q. Sports Enterprise Ltd.