IOS threatens to take legal action against Vijender
The contract-row between Vijender Singh and Infinity Optimal Solutions Pvt Ltd took an ugly turn with the sports management firm threatening to take the boxer to the court.
New Delhi: The contract-row between Olympic and World Championship bronze medallist Vijender Singh and Infinity Optimal Solutions Pvt Ltd took an ugly turn today with the sports management firm threatening to take the boxer to the court over the issue.
The whole fiasco started after Vijender Singh told reporters from Milan that he was well within his rights to ink a multi-crore deal with Percept and had cut his ties with IOS as the company failed to perform according to his expectations.
“We are absolutely astonished to hear Vijender Singh’s statement given today. IOS wants to make it clear that there is no such clause in the agreement which states that
Vijender can end the contract on performance,” IOS CEO, Neerav Tomar said in a statement.
“Also everything till date to name a few be it endorsement deals – Bajaj, Pepsi etc, TV appearances with Salman Khan, Priyanka Chopra, Farhan Akhtar etc, media events with Shah Rukh Khan, Akshay Kumar etc, ramp show with Rohit bal and all other deals and promotions have all been done by us and IOS has documentary evidence including financial statements to prove this. How can he say IOS has not performed?” he questioned.
“Vijender cannot solely take the decision of changing his management company. If required IOS will approach the court,” Tomar added.
Tomar also said that by doing this Vijender has proved that his sole motive is money making.
“Its unbelievable that Vijender can make such a statement. Both of us have shared an extremely close relationship but what I understand from this episode is that his primary motive is money and relationship or sincerity comes last on his list.”
“We have worked and invested on him for years and we will take all appropriate steps to protect our interest if the agreement is breached,” he said.
Recently, Vijender has been signed by Percept for a deal worth between Rs five to six crore, which infuriated IOS as the company claims that it holds the exclusive rights to manage the dashing boxer until 2015.
But Vijender said he was entitled to end the contract when he wanted.
“My contract with IOS had a clause that if I don`t do well, they can end the contract with me but the same applies to me as well. I don`t think they are managing me properly, so I have signed up with Percept,” Vijender said from Milan, where he won India`s maiden World Championship medal.
“More than me benefitting from IOS, I think they have benefitted immensely since my Olympic medal. Now, if they want to make an issue of it, I am not concerned. They can do what they want,” he added.
Vijender also made it clear that there was no breach of contract in ending his association with IOS. “I have to see my interests and pick the company that benefits me. And I think Percept can manage me well.”