Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

India's cricket board, the <keyword id="81008" type="ORGANIZATION" weightage="100" keywordseo="Board-of-Control-for-Cricket-in-India">Board Of Control For Cricket In India</keyword> (<keyword id="6354756" type="CITY" weightage="100" keywordseo="BCCI">BCCI</keyword>), has decided to drop a $42 million damages claim against the West Indies because of an abandoned tour in 2014. This has happened after the new World Twenty20 champions agreed to return for a tour next year. 
 
The huge claim lodged by BCCI had threatened to cripple the already cash-stripped West Indies cricket board, which has since long been at loggerheads with its own players over lack of funds. 
 
However, BCCI president Shashank Manohar has told Cricinfo that the claim was dropped after the West Indies agreed to fulfil their original commitments and return for a tour next year. 
 
The case started when West Indies players went back from their India tour in October 2014 because of a long-running pay dispute. The two teams are now due to play one ODI, three Test matches and a T20 international, the schedule of which would be decided later on. 
 
<a href="http://p.imgci.com/db/PICTURES/CMS/236600/236637.3.jpg">Image source</a>

BCCI has dropped the $42 mn claim against West Indies over an aborted series

Amid suspension of two IPL teams - Chennai Super Kings (CSK) and <keyword id="13802" type="CITY" weightage="80" keywordseo="Rajasthan-Royals">Rajasthan Royals</keyword> (RR) – for two years, the corporate India and <keyword id="54572" type="CITY" weightage="80" keywordseo="PepsiCo">PepsiCo</keyword> might not be interested in any Indian Premier League (IPL) related events or projects. PepsiCo might not bid again for title sponsorship of the IPL after its five-year contract ends in 2017, three industry insiders told the Economic Times, a day after a <keyword id="6354977" type="ORGANIZATION" weightage="60" keywordseo="Supreme-Court">Supreme Court</keyword> panel called for the suspension. 

	Moreover, top companies will remain cautious if the scandal-ridden ILP decides to auction two new teams to replace suspended teams - CSK and RR. 
 This could mean the <keyword id="81008" type="ORGANIZATION" weightage="40" keywordseo="Board-of-Control-for-Cricket-in-India">Board of Control for Cricket in India</keyword> (<keyword id="6354756" type="CITY" weightage="80" keywordseo="BCCI">BCCI</keyword>) may not get high valuations as it did when the Pune and Kochi teams were sold, a fresh auction may offer some a chance to buy teams and players at lower prices. 

	A Pepsi executive told ET: “There has been too much controversy in the IPL and the internal thought process is that the company doesn't want to re-bid for the title sponsorship." 
 

	He added: "Title sponsorship is a direct association with the brand image, which directly risks getting impacted by controversy." 
 

	PepsiCo won the right to attach its name to the tournament with a 396 crore bid for a five-year period that started 2013, the very year in which the spot fixing scandal broke with the arrest of three cricketers. 
 Pepsi's bid was almost twice what the previous sponsor, real estate firm <keyword id="6362997" type="CITY" weightage="80" keywordseo="DLF">DLF</keyword>, had paid the BCCI for the 2008-12 term. 

	Meanwhile, the Indian cricket board is learnt to be considering running the two franchises by itself. It is also considering the option of asking Kochi team to make a comeback, which will help it save Rs 550 crore. 
 

	Earlier, a court-appointed arbitrator has asked the BCCI to pay team Kochi a compensation of Rs 550 crore for terminating the franchise agreement in September 2011.
 "The risk around IPL will be discounted in the bids and eventual prices could be lower than 2008 levels," said <keyword id="7025" type="PERSON" weightage="60" keywordseo="Venugopal-Dhoot">Venugopal Dhoot</keyword>, chairman of Videocon. Dhoot sees this as a great opportunity to buy a team, given the possibility of much lower prices and the fact that top players from the suspended teams such as MS Dhoni, <keyword id="14587" type="PERSON" weightage="80" keywordseo="Suresh-Raina">Suresh Raina</keyword>, R Ashwin, <keyword id="58128" type="PERSON" weightage="80" keywordseo="Dwayne-Bravo">Dwayne Bravo</keyword>, <keyword id="55681" type="PERSON" weightage="80" keywordseo="Brendon-McCullum">Brendon McCullum</keyword>, Ajinkya Rahane and <keyword id="84726" type="PERSON" weightage="100" keywordseo="Steve-Smith">Steve Smith</keyword> could be up for grabs. Dhoot said he will be more cautious now while assessing and bidding. The latest IPL franchise, Hyderabad, was bought by the Sun Group for Rs 85 crore a year in 2012, which was half the Rs 170 crore a year that the <keyword id="31906" type="COMPANY" weightage="80" keywordseo="Sahara-group">Sahara Group</keyword> bid to get the Pune franchise in 2010. The cheapest IPL team, Rajasthan Royals, was originally auctioned in 2008 for about Rs 26.8 crore a year and the most expensive at that time was <keyword id="13880" type="COMPANY" weightage="80" keywordseo="Mumbai-Indians">Mumbai Indians</keyword> for Rs 44.1 crore a year. 

	ET spoke to the CEO of a bank, the owner of a large retail chain, and spokespersons for an auto major, a mining firm and a telecom major to assess the prospects of a possible fresh team auction. All said they would not be bidding even though most of them had shown interest in IPL over the past few years.
 

	While some said that it is not their business, others pointed out that even with a possible discount, it is still a very expensive proposition.
 

	"There are too many other sports that have come up in recent times where investments are much lower," said the CEO of a bank.
 An executive at the auto major said the company has disassociated itself from sponsorship during IPL and is only an on-air advertiser during the tournament. A spokesperson for <keyword id="6357252" type="COMPANY" weightage="80" keywordseo="Hero-MotoCorp">Hero MotoCorp</keyword> said the company does not have any plans to buy an IPL team. 
	 
	(Image: Reuters)

Pepsi not interested in becoming prime IPL sponsor anymore

Hours before the start of the first ODI in Kochi, the West Indies players have threatened to go on strike over proposed pay-cuts by the West Indies Cricket Board and have mulled the possibility of pulling out of the first one-dayer, much less the series. 
 It is being understood that the President of the West Indies Players Association (WIPA) <keyword id="105521" type="PERSON" weightage="80" keywordseo="Wavell-Hinds">Wavell Hinds</keyword> did not take the consideration of players while preparing the new Memorandum of Understanding under which the cricketers undergo a significant pay-cut. According to Windies skipper <keyword id="58128" type="PERSON" weightage="80" keywordseo="Dwayne-Bravo">Dwayne Bravo</keyword>, the morale of the team was at an "all-time low" and if considerable changes were not made, the players will be forced to take "matters in their own hands". 
 
"We believe we are being hoodwinked and are being treated like little school boys, yet we are being asked to perform and play as professionals," <keyword id="286421" type="COMPANY" weightage="80" keywordseo="Bravo">Bravo</keyword> wrote in a letter to Hinds. 
 The players did not take part in the practice session on Tuesday and even skipped the press conference. This leaves the possibility of a strike wide open. The <keyword id="86676" type="ORGANIZATION" weightage="80" keywordseo="WICB">WICB</keyword> sent a press release, where it apologised to the <keyword id="6354756" type="CITY" weightage="80" keywordseo="BCCI">BCCI</keyword> and the fans provided their players decide not to take part in the Kochi one-dayer. The Board also said they'll do every bit of work required to make sure that doesn't happen. 
 
In the letter, Bravo and Co. insisted that they would want the old pay-structure back because under the new MOU, the players "understand" their Test, ODI and T20 fees "have been decreased by 75 percent"; that they will receive "no compensation for the use of our rights. Furthermore, the fact that the players were not informed about the new pay-structure in the MOU is what disappointed them the most. Bravo also said they were informed about the new structure only after landing in India and that Hinds never answered the queries of players regarding the same. 
 
"We are disappointed with the lack of proper representation and the players are now forced to make this proposal without any details as to how this new purported agreement was even arrived at and by whom, since the only advice we have received from you as President and CEO of WIPA is to not sign the contract /agreement that was sent by the WICB. The players are of the view that as a matter of principle, we should not accept these conditions whereby we are being asked to play a series against India without any certainty of what are our obligations and what we will be playing for," the letter revealed. 
 
The players now want WIPA to negotiate an agreement with WICB which includes the say of players. "We wish at this stage to once again reiterate our position as a way forward, let us continue under the old structure until we are able to properly negotiate a fair and reasonable agreement in the best interest of West Indies cricket. This in our view is a sensible approach since it would give us players an opportunity to have an input, seek the necessary advice and put our house in order."

WI Players Contemplating Strike Ahead Of Kochi ODI

Till last year, 24-year-old <a href="http://www.businessinsider.in/searchresult.cms?query=KESHAV+BANSAL&amp;sortorder=effectivedate">Keshav Bansal</a> was busy running a mobile handset company as the Director of <a href="http://www.businessinsider.in/searchresult.cms?query=INTEX+TECHNOLOGIES&amp;sortorder=effectivedate">Intex Technologies India Ltd</a>. Today, he is the youngest owner of an <a href="http://www.businessinsider.in/searchresult.cms?query=IPL&amp;sortorder=effectivedate">IPL</a> team- the <a href="http://www.businessinsider.in/searchresult.cms?query=GUJARAT+LIONS&amp;sortorder=effectivedate">Gujarat Lions</a>. 
 According to him, it took a mere 20 minutes to convince his father Narendra Bansal, who is the Chairman and Managing Director of <keyword id="6366627" type="COMPANY" weightage="100" keywordseo="Intex">Intex</keyword> Technologies that he had what is needed to run an <keyword id="6354312" type="CITY" weightage="100" keywordseo="IPL">IPL</keyword> franchise. 
 
Talking to Livemint about his journey of owning an IPL team, Bansal admitted that he was infact in discussions with <keyword id="6354756" type="CITY" weightage="100" keywordseo="BCCI">BCCI</keyword> for a long-term sponsorship association for Intex as an on-ground sponsor for the IPL. 
 
“That was six months before the auctions. Coincidentally, BCCI members bounced off the idea for bidding for a team. I got back to the office, researched and made a formal presentation to my father. It took us 20 minutes to decide and my father has supported me through this,” said Bansal. 
 
Bansal, who grew up in a joint family studied at The Heritage School in Vasant Kunj before pursuing management AT IILM Institute of High Education in New Delhi. In between, he had also spent a year at the Manchester School of Business. 
 
When he joined Intex, he was put in the logistics department and had to work his way to the company’s marketing team before becoming its Director. 
By his own admission, Bansal has been actively involved in making ad films for the company right from strategy to ideation. 
 
In the past too, he has had a reputation for taking on things at a young age. For example, he held his first press conference at 20 when Farhan Akhtar was appointed as Intex’s brand ambassador. 
 
Owning an IPL team for Bansal ultimately boils down to a chapter in marketing. 
 “Intex Technologies and IPL have the same target audience—the youth. We have been majorly focusing on cricket to fulfil marketing goals. With <keyword id="1641060" type="UNKNOWN" weightage="100" keywordseo="Gujarat-lions">Gujarat Lions</keyword>, we have further strengthened the association and made it more meaningful..,” said Bansal in an interview to Mint. 
 
That however doesn’t imply that he does not take an interest in cricket. But, at the same time, he claims he is equally fond of other sports as well. Naturally, he was also personally involved in the selection of players for the Gujarat Lions. 
 
The team is captained by <a href="http://www.businessinsider.in/searchresult.cms?query=SURESH+RAINA&amp;sortorder=effectivedate">Suresh Raina</a> who is aided my coach Brad Hodge. Others players include Ravindra Jadeja, <keyword id="55681" type="PERSON" weightage="100" keywordseo="Brendon-McCullum">Brendon McCullum</keyword>, James Faulkner and Dwayne Bravo, to name a few. 
 
Once his two-year association with IPL ends, Bansal already has another dream he would like converting to reality- that of taking Intex global. 
 
Image credit: Indiatimes

Meet
24-year-old Keshav Bansal, the youngest owner of an IPL team

Indian cricketers <keyword id="14587" type="PERSON" weightage="100" keywordseo="Suresh-Raina">Suresh Raina</keyword> and <keyword id="6359948" type="PERSON" weightage="100" keywordseo="Ravindra-Jadeja">Ravindra Jadeja</keyword> heaved a sigh of relief after the <keyword id="81008" type="ORGANIZATION" weightage="100" keywordseo="Board-of-Control-for-Cricket-in-India">Board of Control for Cricket in India</keyword> (BCCI) gave a clean chit to them in the backdrop of former IPL commissioner <keyword id="3257" type="PERSON" weightage="100" keywordseo="Lalit-Modi">Lalit Modi</keyword>’s letter to International Cricket Council (ICC) in 2013. 
 
A letter written by Modi to ICC CEO Dave Richardson in June 2013 had surfaced on Twitter last week, in which Modi stated that he was passing on some information he had got. 
 
In the letter, Raina, Jadeja and West Indies’ Dwayne Bravo were accused of taking bribes in the form of money and apartments from a builder who was also a bookie. 
 
In a statement, the ICC stated that Modi’s confidential e-mail, which was received in June 2013, and which has recently been published on Twitter, was provided to the ACSU at the time. The ACSU handled that information in accordance with its standard operating procedures, which included sharing it with the BCCI's anti-corruption unit. 
 
BCCI Secretary Anurag Thakur said that the ICC did not inform BCCI of any wrongdoing. 
 
"Lalit Modi had written to ICC and they then informed us about the letter. The three players named are international players and they fall under the jurisdiction of ICC. They have to ensure and prepare a report. They have not reported anything so far so in a way it's a clean chit for these players to play," Thakur told mediapersons. 
 
(Image: Indiatimes)

You Searched For "Dwayne Bravo BCCI" and got 5 results

BCCI has dropped the $42 mn claim against West Indies over an aborted series

BI India Bureau

Pepsi not interested in becoming prime IPL sponsor anymore

BI India Bureau

WI Players Contemplating Strike Ahead Of Kochi ODI

gocricket staff

Meet 24-year-old Keshav Bansal, the youngest owner of an IPL team

Poulomi Das

Raina, Jadeja, who were accused of taking bribes, get clean chit from BCCI

BI India Bureau

Popular Keywords

Buying Guides