Laws on sports

The imbroglio plaguing IPL has been in the making since the League's inception. Now that things have come to the present state of shame and confusion, is it not high time that appropriate laws are enacted to regulate and control various sport's bodies who are a law unto themselves? To my knowledge there is no law at present. Eventhough they claim and profess to functioning in the public arena, the reality is that  the so called boards and federations are nothing but mere clubs or societies. Such amorphous entities can only harm the country and the people in the long run.