BCCI President's Son in Controversy

I was surprised to read this news story in the Bombay edition of Mirror. Not that Ashwin, son of N.Srinivasan refused to  pay for his drinks at Escobar, not that he punched a policeman, but that Mr. Srinivasan is also the owner (whole or part I don't know) of Chennai Super Kings (CSK).

Doesn't this raise the moral hair off your back? I mean the hackles. How can the president of the board that controls cricket in India also own a team, which is a for profit venture? Doesn't this raise questions of conflicts of interests? How can BCCI decide on matters of the Indian Premier League (IPL) when the president himself is a large player in the said league? 

Now my next question. Why hasn't the media raised this issue? The sports columns are full of sponsored writing, and nobody wants to upset the applecart. I think big scams are hidden in the sports and entertainment fields. More money is being made and shared without thinking of morality and ethics. It can't go on like this, can it?