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Vijay Mallya may sell RCB stake to escape debt trap

July 10, 2012

vijay-mallya

Bangalore, July 10: After the financial turbulence at Kingfisher Airlines, Chairman Vijay Mallya's United Spirits is looking at reducing its debt and bringing back the good times. It may even sell its stake in its Indian Premier League (IPL) team Royal Challenges Bangalore (RCB).


Vijay Mallya's acquisition of the brand White & Mackay helped United Spirits reach the top of the global pyramid, but it came at a cost. Its debt has surpassed Rs 7,000 crore and the company is looking at monetising its non core assets to bring this down to manageable levels.


When the price is right, these assets could well include treasury stocks, a stake in United Breweries, and even a stake in its cricket franchise Royal Challengers Bangalore - all worth between Rs 1,500 and Rs 2,000 crore.


Ashok Capoor, President & MD, USL, said, "We have non core assets we can monetise anytime - treasury stocks, UBL stocks, Royal Challengers. But we will not do any selling at this stage. We will only sell when the price and timing are right to bring our debt down in the future.


That's not all. After touching 120 million cases in volume sales last fiscal, USL is now shifting focus to margins. So the sales target 200 million cases by FY 16 is taking a back seat. USL will drive brands that will contribute to revenues, even if they don't add to the volumes initially.


Ashok Capoor said, "We are chasing value, brands that are more premium and the trend is also towards premiumisation, so with that agenda I don't think we will do 200 million cases by FY 16. It will be less than that."


The company is also hoping that input costs will stabilise this year, making its job much easier.


In 2011, the prices of key input elements, extra neutral alcohol or ena and glass, rose significantly, forcing USL to opt for an aggressive, higher-than-usual, 3.5 per cent price hike. But USL says both ena prices and glass availability are improving this year and as they say - every drop counts.



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Agencies
August 6,2020

New Delhi, Aug 6: The BCCI on Thursday suspended the IPL title sponsorship deal with Chinese mobile phone company Vivo for the event's upcoming edition amid heightened tensions in Sino-India diplomatic ties.

The BCCI sent out a one-line statement, without giving details, saying that Vivo would not be associated with the IPL this year. "The Board of Control for Cricket in India (BCCI) and vivo Mobile India Pvt Ltd have decided to suspend their partnership for Indian Premier League in 2020," the statement said.

Meanwhile, Vivo released its own statement saying that the two entities "have mutually decided to pause their partnership for the 2020 season".

Vivo won the IPL title sponsorship rights for five years from 2018 to 2022 for a reported sum of Rs 2,190 crore, approximately Rs 440 crore per annum.

The two parties are now working out a plan in which Vivo might come back for a fresh three-year period starting 2021 on revised terms.

However, a top BCCI official offered a different view. "Here we are talking about diplomatic tensions and you expect that after November, when IPL ends and before the next IPL starts in April 2021, there would be no anti-China sentiment? Are we serious?" a veteran BCCI official said on conditions of anonymity.

The anti-China sentiment in the country peaked after the violent face-off between the Indian and Chinese troops in eastern Ladakh. India lost 20 soldiers in the clash, while China also acknowledged unspecified casualties.

The stand-off at the Line of Actual Control (LAC) caused outrage across India with several calls for boycotts of Chinese companies and products.

The BCCI is now likely to float a tender for new IPL title sponsors as mandated by its constitution. The glitzy T20 league starts on Sept. 19 in the UAE, forced out of India due to the rising COVID-19 cases.

The new development is in stark contrast to what came out of Sunday's IPL's Governing Council meeting, where it was decided that Vivo, along with all the other sponsors, will remain on board.

This was after the BCCI had announced in June that all sponsorship deals pertaining to IPL will be reviewed in the aftermath of the clash in the Galwan Valley.

However, after Sunday's meeting, there was a huge backlash on social media about the BCCI holding on to Vivo.

Both parties then began thrashing out an amicable separation plan, at least for this season.

However, the end of this deal could spell losses for the franchises as they get a substantial share from the sponsorship pool. Half of the annual Vivo sponsorship money is distributed equally among eight franchises, which comes to Rs 27.5 crore.

"As of now, it will be very difficult for the BCCI to match the sponsorship amount at such short notice. Therefore, both BCCI and the franchises should be prepared to lose out on some money -- BCCI more but each franchise from Vivo's exit will potentially lose 15 crore," the official said.

"This year will be difficult for everyone but the show must go on," the official said.

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Agencies
July 8,2020

Kolkata, Jul 8: Legendary Indian batsman Sachin Tendulkar led the wishes for former India captain and current President of the Board of Control for Cricket India (BCCI) Sourav Ganguly who turned 48 on Wednesday.

Touted to be one of the best captains the country has ever produced, Ganguly is widely credited for making India an aggressive side and instilling belief in the team that they could win overseas conditions as well.

Happy birthday Dadi!
Hope our off-field partnership keeps going strong like our on-field ones. Wish you a blessed year ahead. pic.twitter.com/jOmq9XN07w

— Sachin Tendulkar (@sachin_rt) July 8, 2020
Tendulkar was among the first ones to extend birthday wishes to his former opening partner. "Happy birthday Dadi! Hope our off-field partnership keeps going strong like our on-field ones. Wish you a blessed year ahead," Tendulkar said on Twitter.

"Many more happy returns of the day Sourav Ganguly. May you taste ever more success and receive more and more love. Have a great day and year ahead #HappyBirthdayDada," said renowned Indian batsman VVS Laxman.

Many more happy returns of the day @SGanguly99 . May you taste ever more success and receive more and more love. Have a great day and year ahead #HappyBirthdayDada pic.twitter.com/j53UUDerJE

— VVS Laxman (@VVSLaxman281) July 8, 2020
Former cricketer Mohammad Kaif wrote: "From a fine batsman to an outstanding captain & now leading Indian cricket on the whole—here's wishing my favourite captain & mentor Sourav Ganguly a very happy birthday. But FAULADI SEENA dikha ke aise kaun chadhta hai (who climbs up like this after showing a chest of steel), Dada #HappyBirthdayDada."

From a fine batsman to an outstanding captain & now leading Indian cricket on the whole—here’s wishing my favourite captain & mentor @SGanguly99 a very happy birthday. But FAULADI SEENA dikha ke aise kaun chadhta hai, Dada #HappyBirthdayDada pic.twitter.com/8PKZ3RwwtB

— Mohammad Kaif (@MohammadKaif) July 8, 2020
"Wishing a very happy birthday to the most dynamic and visionary captain of his time. It's a matter of immense pleasure to work with the man who took Indian cricket to new heights. Subho Janmodin Sourav Ganguly," tweeted BCCI Secretary Jay Shah.

"Leader of Men. God of off-side. Fighter. Happy Birthday, Dada. #HappyBirthdayDada," said commentator and former cricketer Aakash Chopra.

Leader of Men.
God of off-side.
Fighter.
Happy Birthday, Dada. #HappyBirthdayDada pic.twitter.com/PJcy0xwgyb

— Aakash Chopra (@cricketaakash) July 8, 2020
"Happy birthday dada! From a great captain to a brilliant administrator, you have donned them magnificently. Hope you continue your good work for the betterment of Indian cricket... Godspeed. Sourav Ganguly #HappyBirthdayDada," tweeted another former cricketer Pragyan Ojha.

Putting out various important achievements of Ganguly, the International Cricket Council (ICC) on their official Twitter handle wrote: "Third-fastest to 10,000 ODI runs. Holds the record for the highest individual score in CWC for India. 2003 ICC World Cup runner-up. Captained India to 11 wins in 28 overseas Tests. Happy birthday to one of India's most successful captains, Sourav Ganguly."

Ganguly played 113 Tests and 311 One Day Internationals in which he scored 7,212 and 11,363 runs respectively.

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July 19,2020

Manchester, Jul 19: Former England pacer Dominic Cork reckons star all-rounder Ben Stokes will go on to become one of his country's greatest cricketers ever.

Stokes, the hero of England's World Cup triumph last year, sparkled with a fine 176 and powered his side to a strong first-inning total of 469/9 declared in the ongoing second Test against the West Indies here.

"I genuinely think he can get better because of his work ethic. He wants to bat, he wants to bowl, he wants to work on his game, wants to get better," Cork said on Sky Sports show The Cricket Debate.

"I know he works a hell of a lot on his bowling as well. I just see this man not becoming only the best in the world but one of the best we have had ever. That's how highly I rate him."

The former seamer thought things changed for better for the World Cup hero after the Bristol bar brawl three years ago.

Last year, Stokes himself had said that the unsavoury incident and the ensuing chain of events, which dogged his career for 15 months, may be the best thing that could have happened to him.

Following the incident in September 2017, Stokes was acquitted of affray by a Bristol court in August 2018, before the England and Wales Cricket Board (ECB) ended his 15-month exile after a hearing in December 2018.

Former England batsman Ravi Bopara also spoke about the remarkable change in Stokes' approach.

"I think there has definitely been a change with Ben. He has made his mistakes and learnt from them. He looks a formidable cricketer," he said.

"He is a fiery character and always has been - even if you are playing PlayStation in hotel rooms.

"But as he has had a more important role in the side as an all-rounder, making an impact with bat and ball, winning games for England, and since England have started looking at him as the main guy, his attitude has changed with it."

West Indies lead the three-match series 1-0 after their win in the opener at Southamton.

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