IPL council to hear DC mortgage case

August 14, 2012
DC


New Delhi, August 14: The IPL governing council will meet on Tuesday to decide the fate of Deccan Chargers, who have allegedly flouted rules by mortgaging their franchise to banks to enable them to tide over a tight cash situation, sources said on Monday.


Under IPL rules, franchise owners are not allowed to mortgage their teams and use the funds for other expenses. Members of the IPL governing council were recently informed by some lenders about their exposure to Deccan Chargers which is now part of Deccan Chronicles Holdings. The banks also wanted the cricket body to help get a security for their loan to the franchisee.

The Governing Council discussed the issue on August 9 but failed to arrive at a decision. They will be again grappling with the nettlesome issue on Tuesday.


IPL sources said that Deccan Chargers have taken a loan of Rs 480 crore from one private bank and Rs 170 crore from another by mortgaging their IPL franchise. Apart from these two banks, funds from other creditors are also said to be locked up in Deccan Chargers.

Owners of Deccan Chargers are expected to present their case while bank representatives will detail their grievances and seek a solution, the IPL sources said.

The promoters of Deccan Charges have been under financial stress of late and have pledged their shares with banks to raise funds.



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News Network
July 6,2020

Karachi, Jul 6: Former Pakistan captain Inzamam-ul-Haq has said that questions will be raised if Indian Premier League is slotted in the window allotted to ICC T20 World Cup in Australia, which in all likelihood will be cancelled in the wake of the Covid-19 pandemic.

The ICC is yet to decide the fate of the T20 World Cup in Australia which is scheduled to take place from October 18 to November 15.

"There are rumors that the World Cup was clashing with the Indian Premier League (IPL) and the Australia-India series, therefore, it (T20 World Cup) won't take place," Inzamam said in his YouTube channel on Sunday.

"The Indian board is strong and has control in the International Cricket Council (ICC). If Australia says that we cannot hold the World Cup because of the Covid-19 pandemic, then their stance will be easily accepted, but if any such kind event happens during the same time, then questions will be raised," he said.

The 50-year-old former batsman, who has scored 8,830 runs in 120 Tests and 11,739 runs in 378 ODIs for Pakistan, further said, "People will think, if a country could host 12 to 14 teams (16 teams), then why the ICC could not look after the teams, after all Australia is such an advanced country.

"Another thing is the ICC should not be allowed to give priority to private leagues (IPL) on international cricket. This will lead to young players forcing on private leagues other than international matches."

The former coach, however, agreed that it is not easy to host 16 nations during the T20 World Cup.

"Australia can say that it was difficult for it to manage 18 teams (16) for the mega event as it is not easy. Likewise, the Pakistan team was in England in a hotel and all the facilities were being provided there, therefore, it has not been easy to manage 18 teams (16)," he said.

The fate of Asia Cup which PCB will be hosting in a neutral country for security reason is also an issue as no one knows the fate of the tournament originally scheduled in September.

Inzamam said: "I have also heard that objections are also raised on the dates of the Asia Cup as it is clashing with some other event.

"The ICC, the Asian Cricket Council (ACC) and all cricket boards should sit together and give a strong message that any such kind of impression (giving priority to private leagues instead of international cricket), won't take place," he said.

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News Network
February 14,2020

London, Feb 14: Former Sri Lanka skipper and current Marylebone Cricket Club's president Kumar Sangakkara has said that the 2009 Lahore terror attack taught him about his own character and values.

His remarks came as MCC arrived in Pakistan to play T20I matches against Lahore Qalandars. This will mark his first return to the Gaddafi Stadium, where a shocking atrocity took place when the Sri Lankan bus was attacked by terrorists.

The Sri Lankan team was on their way to Lahore's Gaddafi Stadium for a Test match with Pakistan in 2009 when terrorists from the Taliban and Lashkar-e-Jhangvi (LeJ) fired indiscriminately at their bus. The attack left eight people dead and injured seven Sri Lankan players and staff.

Ever since the incident, no cricket team toured Pakistan to play a cricket series, however, the landscape changed last year as Sri Lanka paid a visit to the country to play a series across formats. After that, even Bangladesh toured Pakistan and now there are talks of South Africa going to the country to play a series.

"I don't think I need any flashbacks, because I remember that day and those moments so very clearly. It's not something I relive or wallow in. But it's an experience you should never forget, because it gives you perspective in terms of life and sport, and you learn a lot about your own values and characters, and those of others," ESPN Cricinfo quoted Sangakkara as saying.

"I have no reservations about talking about it, it's not something that upsets me, but these sorts of experiences can only strengthen you. Today I consider myself very fortunate to be able to come back here to Lahore, and at the same time remember the sacrifice of all those who lost their lives that day," he added.

Sangakkara said that every human has his own way of dealing with such adversity.

"I think everyone deals with it in their own personal way. But at the same time, what really unites us is that you face adversity and you face challenges, and you have to get past it, and you've got to do that successfully. It's about moving forwards and upwards and being part of cricket. Being Sri Lankan you learn those lessons quite well, because, throughout our civil war, cricket was a unique vibe," Sangakkara said.

"We speak about the attack at various times. We even have a laugh about it, in terms of what we went through because it helps sometimes to look at it with a bit of humour, even though there was a tragic loss of life, and other serious injuries within that incident," he added.

MCC in the weeklong tour will take on Lahore Qalandars in a T20 match at the Gaddafi Stadium later today.

Kumar Sangakkara will lead the MCC's twelve-man squad for the tour, which includes Ravi Bopara, Roelof van der Merwe, Ross Whiteley among others.

Fixtures for the upcoming tour are as follows:

MCC vs Lahore Qalandars, T20I, Gaddafi Stadium, February 14

MCC vs Pakistan Shaheens, ODI, Aitchison College, February 16

MCC vs Northern, Aitchison College, T20I, February 17

MCC vs Multan Sultans, Aitchison College, T20I, February 19.

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News Network
June 19,2020

Jun 19: The BCCI is open to reviewing its sponsorship policy for the next cycle but has no plans to end its association with current IPL title sponsor Vivo as the money coming in from the Chinese company is helping India's cause and not the other way round, board treasurer Arun Dhumal said on Friday. Anti-China sentiments are running high in India following the border clash between the two countries at Galwan valley earlier this week. The first skirmish at the India-China border in more than four decades left at least 20 Indian soldiers dead. Since then, calls have been made to boycott Chinese products.

But Dhumal said Chinese companies sponsoring an Indian event like the IPL only serve his country's interests.

The BCCI gets Rs 440 crore annually from Vivo and the five-year deal ends in 2022.

"When you talk emotionally, you tend to leave the rationale behind. We have to understand the difference between supporting a Chinese company for a Chinese cause or taking help from Chinese company to support India's cause," Dhumal said.

"When we are allowing Chinese companies to sell their products in India, whatever money they are taking from Indian consumer, they are paying part of it to the BCCI (as brand promotion) and the board is paying 42 per cent tax on that money to the Indian government. So, that is supporting India's cause and not China's," he argued.

Oppo, a mobile phone brand like Vivo, was sponsoring the Indian cricket team until September last year when Bengaluru-based educational technology Byju's start-up replaced the Chinese company.

Dhumal said he is all for reducing dependence on Chinese products but as long as its companies are allowed to do business in India, there is no harm in them sponsoring an Indian brand like the IPL.

"If they are not supporting the IPL, they are likely to take that money back to China. If that money is retained here, we should be happy about it. We are supporting our government with that money (by paying taxes on it)."

"If I am giving a contract to a Chinese company to build a cricket stadium, then I am helping the Chinese economy. GCA built the world's largest cricket stadium at Motera and that contract was given to an Indian company (L&T)," he said.

"Cricketing infrastructure worth thousands of crores was created across country and none of the contract was awarded to a Chinese company."

Dhumal went on to say the BCCI is spoilt for choice when it comes to attracting sponsors, whether Indian or Chinese or from any other nation.

"If that Chinese money is coming to support Indian cricket, we should be okay with it. I am all for banning Chinese products as an individual, we are there to support our government but by getting sponsorship from Chinese company, we are helping India's cause."

"We can get sponsorship money from non-Chinese companies also including Indian firms. We can support our players any way but the idea is when they are allowed to sell their products here, it is better that part of money comes back to the Indian economy."

"The BCCI is not giving money to the Chinese, it is attracting on the contrary. We should make decision based on rationale rather than emotion," he added.

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