[Just in] Champions League T20 scrapped a day after the #IPLVerdict

A day after the explosive verdict on the IPL spot-fixing scandal, the Champions League T20 tournament that takes place with teams from all over the world, has been scrapped. Here are the major developments:

• The Governing Council of the Champions League Twenty20 confirmed on Wednesday that the CLT20 competition will be discontinued with immediate effect.

• The Governing Council, comprising representatives of Cricket South Africa (CSA), Cricket Australia (CA) and the Board of Control for Cricket in India (BCCI) unanimously chose to scrap the tournament.

• The CLT20 scheduled for September and October of this year will not take place.

• The competition was launched in 2009 with a lot of excitement.

• BCCI: CL T20 not sustaining the interest of the fans.

• Anurag Thakur, Honourary Secretary of the BCCI said: "This has been a difficult decision as the Champions League T20 provided added context to a number of domestic Twenty 20 competitions around the world such as the IPL in India, Big Bash League in Australia and South Africa's Ram Slam T20. "

• Further details associated with winding down the league will be completed very soon.