BCCI set to pay huge compensation to Kochi Tuskers Kerala

Agencies
October 24, 2017

New Delhi, Oct 24: The BCCI is set to pay a huge compensation of more than Rs 800 crore to disbanded IPL franchise Kochi Tuskers Kerala for terminating their contract in 2011.

"Kochi Tuskers has demanded Rs 850 crore as compensation. Today we discussed the matter at IPL GC meeting and we will now place the matter before general body. Let them take a call but obviously some negotiations are needed," IPL chairman Rajiv Shukla said after the meeting.

Kochi Tuskers owners in 2015 had won an arbitration challenging BCCI decision to encash bank guarantee citing breach of contractual agreement.

The RC Lahoti headed panel had directed BCCI to pay Rs 550 crore as compensation with 18 per cent annual penalty on failing to do so.

For the past two years, BCCI was adamant in neither paying compensation nor taking back the franchise in the IPL.

"We have to pay Kochi compensation. All legal options have been exhausted. Normally when arbitration decision goes against you, it will be stupid to move Supreme Court appealing against it. We have no option but question is how much," an influential IPL GC member told PTI after coming out of the meeting.

The decision to terminate Kochi contract was taken by then BCCI President Shashank Manohar citing breach of franchise agreement, something majority of BCCI officials were against.

"It was one man's obstinacy that is now costing us a bomb. Had Shashank not taken that decision, we could have worked our way out.

"In fact, before Kochi went to arbitration, they had asked for a compensation of Rs 300 crore. Even then our officials showed arrogance and now we will be forced to shell out more than double," the angry official further added.

The BCCI will be trying to negotiate and bring down the compensation to an optimum level.

"Even then we will not be able to bring down to less than Rs 600 crore, I feel," said the official, who had been associated with the case.

Meanwhile in another development, the BCCI will be earning a token amount of Rs 5 lakh from Chennai Super Kings (CSK) as a part of 5 percent earnings from total valuation of a franchise that transfers its ownership.

Chennai Super Kings is now under the wings of Chennai Super Kings Company Limited (CSKCL) with India Cements transferring its shares to the newly formed limited company.

As per IPL rules, any transfer of ownership will mean that BCCI will get 5 per cent of the total valuation.

Accordingly, BCCI is expected to get Rs 5 lakh and senior officials are not amused.

"This is bizarre but true. We will get Rs 5 lakh but we are trying to take legal opinion," the official said.

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Agencies
August 3,2020

Silverstone, Aug 2: Mercedes driver Lewis Hamilton on Sunday won his seventh British Grand Prix title after a dramatic last-lap at the Silverstone Circuit.

Hamilton and teammate Valtteri Bottas were at the first and second spot respectively until tyre drama struck.

Second-placed man Bottas was the first to suffer as his tyre deflated on lap 50, resulting in 11th place finish. Hamilton also suffered a similar issue before the final few seconds of the race.

However, with Max Verstappen having opted to pit a few laps from the end to try and claim the fastest lap, Hamilton had enough time in hand to just cross the line first, five seconds ahead of Verstappen and the third-placed Ferrari of Charles Leclerc.

McLaren's Carlos Sainz had been set to finish fourth, but his own last lap tyre issue saw him eventually come home P13, allowing Renault's Daniel Ricciardo to claim fourth, following a late pass on the sister McLaren of Lando Norris.

Renault's Esteban Ocon finished sixth, having enjoyed a race-long battle with Lance Stroll's Racing Point, with Pierre Gasly having enjoyed a fine race to finish seventh for AlphaTauri.

Alex Albon finished eighth for Red Bull, having recovered from a lap 1 tussle with the Haas of Kevin Magnussen that saw him fall to last, while Lance Stroll and Sebastian Vettel rounded out the top 10, Vettel holding off a late charge form the recovering Mercedes of Bottas.

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News Network
January 28,2020

Gibraltar, Jan 28: Young Indian Grand Master R Praggnanandhaa pulled off a huge upset, beating former world champion Veselin Topalov in the sixth round of the 18th Gibraltar chess festival to record his fifth straight win here.

The 14-year-old Chennai lad needed just 33 moves to put it across the Bulgarian. He had started with a loss against compatriot P V Nandhidhaa but since then he has been on a winning spree.

Praggnanandhaa, who recently won the world under-18 title, said: "It was very tough to prepare against him."

He is in second spot on five points with six other players and will take on Chinese GM Wang Hao in the seventh round.

Seventeen-year-old Russian GM Andrey Esipenko jumped to sole lead with 5.5 points with a win over Georgia's Ivan Cheparinov

The Russian player would be unpaired in the seventh round as he decided to take a bye.

A bunch of players including Indians — B Adhiban, K Sasikiran, Shardul Gagare, Karthikeyan Murali, SL Narayanan — are in joint third place with 4.5 points.

Adhiban beat Gabriel Flom, while D Gukesh, the world's second youngest Grand Master ever, defeated Martin Percivaldi to move to four points.

Also winning were Karthikeyan Murali against Qi B Chen and Gagare over France's Maxime Lagarde.

Top-seed Shakhriyar Mamedyarov's moderate run continued as he was held to a draw by GM Aryan Chopra.

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News Network
May 8,2020

New Delhi, May 8: India skipper Virat Kohli believes cricket in empty stadiums is a real possibility in post COVID-19 world and though it is unlikely to have a bearing on the intensity of players, he feels the magic would certainly go missing.

Cricket Boards across the globe are exploring the option of resuming the sport in empty stadiums. There is speculation that fans could be kept away from stadiums in a bid to salvage the T20 World Cup in Australia, which is currently under threat due to the global health crisis.

"It's quite a possible situation, it might happen, I honestly don't know how everyone is going to take that because we all are used to playing in front of so many passionate fans," Kohli said in Star Sports' show 'Cricket Connected'.

"I know it will be played at a very good intensity but that feeling of the crowd connecting with the players and the tension of the game where everyone goes through it in the stadium, those emotions are very difficult to recreate," he added.

Kohli said the many moments which are created because of the passion brought in by fans, would be missing.

"Things will still go on, but I doubt that one will feel that magic happening inside because of the atmosphere that was created.

"We will play sports how it is supposed to be played, but those magical moments will be difficult to come by," he said.

Cricketers such as Ben Stokes, Jason Roy, Jos Buttler and Pat Cummins have backed the idea of playing behind closed doors.

However, legendary Australian Allan Border has said it would defy belief to host a World Cup without spectators.

Another Australian all-rounder Glenn Maxwell and some other cricketers have also expressed similar sentiments.

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