X 1 Racing League refutes allegations of payment default to the broadcast production team
It must be mentioned that the broadcast production team of X1 Racing League has alleged that the management has not cleared their long pending dues.
The X 1 Racing League has refuted allegations of payment default to the broadcast production team. It must be mentioned that the broadcast production team of X1 Racing League has alleged that the management has not cleared their long pending dues.
Refuting the allegations, X1 Racing spokesperson said, “The cheques issued to sportzworkz were from one of the team owners directly (in lieu of the franchise fees to be paid to us). The team owner has also issued cheques worth Rs 2 cr to X1 Racing that have bounced and we have proofs for all of this. X1Racing has not issued any cheques that have bounced to anyone and the delay in the final payment is due to the 2 team owners and a sponsor delaying their payment to us, which have further been complicated by the ongoing covid impact on businesses.”
“Unfortunately, due to the impact of covid, our ability to raise external funding has been curbed and slowed down, but we have investors who are aware of the situation and we are looking to solve the problem for our service providers in due course without entirely depending on our commercial partners who have defaulted to us”, he added.
However a spokesperson for the broadcast production company maintained that the cheque was handed over to them by X1 racing league management and not by any team owner. The broadcast company also mentioned that their contract was with X1RL so if any cheque handed over to them by X1RL bounces, the responsibility lies with X1RL and not anybody else.
“The cheque might be issued by any team owner but the fact still remains the same that the production company is still due to get their payment for the broadcast of the X1 Racing league event”, stated the spokesperson.
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